Prices for oil reference brands on Thursday are close to the maximum marks over the past year and a half amid optimism about the prospects for oil demand. At the same time, the growth of oil prices is observed for the third day in a row, celebrates Trading Economics.
Cost of June Brent Futures on the London Stock Exchange Ice Futures is currently $ 68.37 per barrel, which is $ 1.1 (1.64%) above the price of closing the previous session.
WTI oil futures price for June at the auction of the New York Commodity Exchange (NYMEX) by this time is $ 64.8 per barrel, which is $ 0.94 (1.47%) above the level of closing the previous session.
Recent Statudinal from the United States indicate a confident economy recovery, said Schneider Electric analyst Robbie Fraser, which quotes MarketWatch. The US GDP in the first quarter of 2021 increased by 6.4% in terms of annual rates, testify the preliminary data of the US Department of Commerce, published on Thursday.
In addition, the supply indicator for petroleum products in the United States rose to a maximum in more than two months, the Bloomberg agency reports. At the same time, the data of the US Ministry of Energy, published on Wednesday, showed the maximum since the beginning of March reduction of distillates in the country.
Fuel consumption in China may increase taking into account the upcoming long weekends, since the inhabitants of the PRC are traditionally actively traveled during holiday periods.
Meanwhile, investors are concerned about the pandemic and its impact on economic activity. In India, which is the third largest importer of oil, over the past days, more than 379 thousand new cases are COVID-19.