Oil prices overcame a psychological mark at $ 30 after the ECB President announced a possible change in monetary policy due to weak inflation data in the Eurozone.
MOSCOW, 22 Jan. Oil prices on Friday continued to actively grow on the background of statements of the head of the European Central Bank (ECB) Mario Draghi on further measures of monetary policy in the Euro area, according to AFP.
As at 09.37 GMT, the March futures price for North sea petroleum mix of mark Brent grew by only 3.50% to 30,64 per barrel. The price of March futures for oil of mark WTI has grown on 4,08% — to the dollar 30,73 per barrel. Earlier in the course of trade both standard reached $ 31 dollar per barrel.
At a press conference after the next ECB meeting on Thursday Draghi said that the regulator may take a decision to change its monetary policy at its next meeting in March. This is due to weak inflation data in the Eurozone. According to him, the ECB has “the power, determination and commitment” to act.
After such statements, oil prices rebounded from 12-year lows and began to show strong growth. However, analysts believe that the oversupply in the market will limit future price growth. “Definitely, prices are now at the minimum mark,” said CNBC CEO of the British Corporation Vedanta Resources Anil Agarwal (Anil Agarwal).
