Oil prices reached their highest level in two months, the highlight of shrinking oil stocks in the united states and sanktionshotet against OPEC-member Venezuela, reports Reuters.
”U.s. oil inventories have large reductions, saudi Arabia seems to want to play its role as the world’s ’swing producer’ and the USA is threatening sanctions against Venezuela. This will certainly raise the price of oil,” says Jeffrey Halley, an analyst at terminsmäklaren OANDA.
Today, 31 June, the cost of a barrel of north sea oil (Brent) 52:27 dollar, 0.07 percent higher compared with the trading day before. A barrel of U.S. oil (WTI) priced at 49:76 dollars.
Global oil prices have risen by 10% since the last meeting between the member countries of the Opec and other major oil producers such as Russia.