Moscow. April 24. Oil prices are rising on Monday on the new signals about the possibility of extending States of OPEC agreements on production cuts.
The cost of June futures for Brent crude on the London ICE Futures exchange to 8:05 Moscow time has risen by $0.29 to (0,56%) – to $52,25 per barrel. By the close of market on Friday has fallen in price on $of 1.03 (1,94%) to $51,96 per barrel.
Futures price for WTI crude oil for June on the electronic trading on the new York Mercantile exchange (NYMEX) has increased by this time $0,24 (0,48%) to $49,86 per barrel. The contract fell $1,09 (2,15%) – to $49,62 per barrel at the end of the previous session.
Support for the oil market also provide the results of the first round of presidential elections in France, boosting demand for riskier assets. The candidate in presidents of France from the movement “Forward” Emmanuel macron is a leader in the first round with 23.7% of the votes, in second place – the far-right candidate marine Le Pen – almost 22%. Both of these candidates advance to the second round, which will take place on 7 may.
OPEC technical Committee, involved in monitoring the terms of the agreement to reduce output States of the organization, supports the extension of the term of the agreement for six months, reported Bloomberg, citing informed sources.
According to the Committee’s estimates, OPEC and non-OPEC, have entered into the agreement in March, fulfilled its conditions by 98%.
Last week the price of Brent oil and WTI lost about 7%. Baker Hughes data released on Friday, pointed to the growing number of active oil rigs in the United States for the 14th consecutive week – 5 pieces, up to 688 units.