Brent oil prices rose to a maximum of two weeks us $47.7 per barrel

Moscow. June 30. INTERFAX.RU – Oil rises in Asian trading on Friday the seventh consecutive session and closed trading yesterday at the highest level in two weeks.

The price of August futures for Brent crude on the London ICE Futures exchange to 8:05 Moscow time has risen 29 cents (0,61%) to $47,71 per barrel. Trading for the August contract close on Friday, more active September futures rose to $47.90 a barrel.

Crude oil with August delivery in electronic trading on the new York Mercantile exchange (NYMEX) increased by $0,28 (0,62%) – to $45,21 per barrel.

On Thursday Brent crude rose by $0,11 (0,2%), to $47,42 per barrel, WTI – at $0,19 (0,4%), to $44,93 per barrel.

Earlier this week, investors cheered the news on the reduction of oil production in USA by 100 thousand barrels per day over the past week. However, experts say that soon the production will return to growth, because the decline was associated among other things with the impact of tropical storm “Cindy”.

Societe Generale on Thursday sharply downgraded its price forecasts for Brent and WTI, Goldman Sachs – for WTI. Analysts alarmed by the growing production in the United States, Nigeria, warning that due to a rebalancing of supply and demand in the market will take more time and may require additional efforts of OPEC+.

With the beginning of the month to the 29th of June, Brent crude fell by 5.7%, WTI – by 6.9%.