The cost of Brent oil reached record indicators for three years and rose above $ 80 per barrel for the first time since the fall of 2018, RIA Novosti reports.
As of 7:16 Moscow time, the price of December futures for oil Brent rose by 0.85 percent, to $ 79.36 per barrel, November – by 0.83 percent, up to 80.19 dollars per barrel. It happened for the first time since October 2018.
The price of November futures on the WTI oil stamps increased by 0.85 percent, to $ 76.09 per barrel.
Against the background of economic recovery, demand increases, and the proposal falls: because of the hurricanes “Ida” and “Nicholas”, which rolled through the Gulf of Mexico in the United States, most of the oil production was stopped for several weeks.
Organization of exporting countries and OPECs + decided to adhere to a decision on a phased increase in fossil fuel production. In addition, gas deficit will lead to an increase in electricity generation operating on liquid fuel, which will also increase the demand for oil.