Oil prices rose on Monday after falling prices last week


Moscow. November 16. Oil prices rise on Monday after falling following the results of last week, investors weighed increasing geopolitical tensions after terrorist attacks in France, reports Bloomberg.

The cost of the January futures for Brent crude on London’s ICE Futures exchange to 8:57 Moscow time increased by $0,30 (0,67%) – to $44,77 per barrel. By the close of market on Friday, the price of the December futures, which ended the auction on the weekend, fell to $0,45 (1,02%) – to $43,61 per barrel.

Futures price for WTI crude oil for December in electronic trading on the new York Mercantile exchange (NYMEX) has increased by this time for $0,16 (0,39%) – to $40,90 per barrel. According to the results of the previous trading, the contract dropped $1,01 (2,42%) – to $40,74 per barrel.

Last week Brent and WTI prices dropped by 9%.

As reported, the French air force struck blows to objects of the grouping “Islamic state” (IG) in Syria in response to a series of terrorist attacks in Paris, which killed 129 people. According to the French foreign Ministry, ordered the terrorist attacks are in Syria.

“The events in Paris raise geopolitical uncertainty, however, the price growth will be very limited – said a senior analyst at CMC Markets RIC Spooner. – Oil reserves in the world still abound, and any response to the attacks in the near future will be aimed at Syria, which is not a major oil producer”.

In may 2015 Syria has produced 25 thousand barrels of oil per day. However, the country shares borders with Iraq, the second largest volume of oil produced by OPEC member after Saudi Arabia.

As reported on Friday by oilfield services company Baker Hughes, the number of operating oil wells in the U.S. last week rose by 2 units to 574. Since the beginning of September were frozen more than 100 wells.