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Oil prices rise slightly on risks associated with EU sanctions
Energy
- 19 October, 2022
- 06:02
World oil prices rose slightly on October 19 morning, as investors are assessing the risks associated with a possible reduction in supply due to EU sanctions against Russia, Report informs.
The price of December futures for Brent crude rose by 0.49% to $90.47 per barrel, December futures for WTI grew by 0.97% to $82.84.
In addition to concerns about supplies, investors focused on from the American Petroleum Institute (API), according to which US commercial stocks of this type of raw material fell by 1.27 million barrels in the week to October 14, while analysts expected an increase of 1.55 million barrels.
Meanwhile, the price of Brent fell below $89 per barrel for the first time since October 4.
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