The world price of oil during trading on Tuesday resumed a negative trend, but remain at maximum levels for the month reached on Monday, as investors lock in profits.
As at 07.56 Moscow time the cost of October futures for North sea petroleum mix of mark Brent has decreased on 0,54% – to 48.09 per barrel. Price of the September futures for WTI went down on 0,44% – to 45.50 a dollar per barrel. On Monday, U.S. crude for the first time since July 21 exceeded the psychological mark of $ 45 per barrel, and Brent – for the first time since July 15 was higher than the level of 48 dollars per barrel, reports RIA “Novosti”.
The impetus for the rally in the market of “black gold” was received last week Thursday after the statements of the Minister of energy, industry and mineral resources Saudi Arabia Khalid al-falikha. He said that his country could take part in coordinated action by OPEC and major exporting countries to help balance the market. In his opinion, a meeting on the sidelines of the International energy forum in September in Algeria is an opportunity for this.
Additional stimulus to the growth of the world prices for oil received on Monday, thanks to the comments of the Minister of energy Alexander Novak. In an interview with the Saudi newspaper “Al-Sharq al-Awsat,” he said that doors for negotiations with OPEC regarding the freeze of the level of oil production to stabilize prices remain open if the need arises.
“The price of oil rose to four-week high amid the ongoing talk that OPEC will discuss the possibility of limiting production in the upcoming meeting… Joined Russia, saying it is open to such negotiations,” Reuters quoted analysts from ANZ bank.
On Tuesday, investors chose to fix profits, which led to the negative dynamics on the market. Despite this, the price of Brent crude oil remains at 15% higher than at the beginning of the month 41,51 per barrel and the price of WTI crude oil is 16% higher than of 39.19 per barrel, reached on August 3.
