In the course of trading on the London stock exchange ICE cost of Brent crude oil exceeded $ 47 a barrel for the first time from November 2015. This is evidenced by the trading platform.
Oil becomes more expensive from April 26 after the publication of data on commercial oil reserves in the United States. They decreased by 1.1 million barrels, while the market expected growth of 2.4 million barrels.
According to Bloomberg, the magical price of oil is $ 50 per barrel. When the cost of raw materials, the industry will begin to recover.
April 17 in the Qatari capital Doha hosted a meeting of representatives of the countries-manufacturers of oil. It was expected that the parties will sign an agreement to freeze production to prevent further fall of prices for hydrocarbons. But the deal never took place — Saudi Arabia declined to sign any documents without the participation of Iran, the representatives of the Islamic Republic in Doha arrived.
For background information on the failure of the talks Brent crude fell nearly five percent to 40,16 dollar and the U.S. currency rose to 68.3.
