NEW YORK, February 12. /Corr. Igor Borisenko/. The price of oil WTI on Friday an hour before the close of the session on the new York stock exchange went up sharply by 12.3% and reached $29,44 per barrel. This is the most significant growth in oil prices during a single session for the last 7 years.
As noted by the Wall Street Journal, market sentiment was influenced by data released today by Baker Hughes, according to which the number in operation in the U.S. oil rigs fell last week to 30 and now has reached 514, indicating that the decrease in extraction volume.
As noted by the newspaper, analysts expect growth of oil prices in the second half. “We believe that the price of Brent crude oil and WTI will rise in the second half of this year, as the expected decline in production volumes, particularly in the United States”. – the newspaper cites the opinion of the head of Department of researches of commodity market Research company BMI John Davis.
Oil prices over 40 years