Brent slightly rises in price, trading at $73.73 per barrel

Benchmark crude oil prices fluctuated slightly on the morning of September 19, as traders assessed the results of the Federal Reserve System (FRS) September meeting and data on oil reserves in the US, Report informs referring to Interfax.

The cost of November Brent futures on the London ICE Futures exchange as of 09:05 (GMT+4) is $73.73 per barrel, which is 8 cents higher than at the close of the previous trades.

WTI oil futures for October on the electronic trading of the New York Mercantile Exchange (NYMEX) fell in price by 5 cents, to $70.86 per barrel.

On September 18, the Federal Reserve cut its key interest rate by 50 basis points (bp) at once, to 4.75-5% per annum.

The decline was the first since March 2020 and a record since 2008. Prior to this, the Fed had not changed the rate for eight meetings in a row.