The price of Brent oil returned to $50 on fears of supply disruption

The price of Brent oil returned to $50 on fears of supply disruption


According to the auction, the price of December futures for North sea petroleum mix of mark Brent rose of 50.05 per barrel, WTI increased to 47,34 per barrel on fears of supply disruption from Libya.

MOSCOW, 3 Nov. The Brent crude oil price again broke above a mark in 50 dollars per barrel, after below this level in just two trading sessions, on fears of supply disruptions from Libya, according to AFP.

As at 19.06 GMT the cost of December futures for North sea petroleum mix of mark Brent has grown on 2,47% — to 49,98 USD per barrel. A few minutes before she reached 50,05 USD per barrel. The price of December futures for WTI crude oil rose 2.6% to 47,34 dollars per barrel.

The Libyan oil company National Oil Corp. declared force majeure, allowing the company if necessary to suspend the supply of the black gold.

“We should not expect the expanding oil production in Libya in the next few months,” reports Bloomberg words of an analyst Barclays Plc Mivina Mahesh (Miswin Mahesh).

At the same time to keep prices help build expectations weekly oil inventories in the United States. According to analysts, the U.S. Department of energy on Wednesday reported a rise in stocks of raw materials in the country last week by 2.6 million barrels, after rising by 3.38 million barrels a week earlier.