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Brent crude price reaches $52 per barrel first time since June

October 05, 2016, 19:04 UTC+3
1 pages in this article

The cost of the futures contract of Brent crude oil for December 2016 delivery raised by 2% on London's ICE on Wednesday in comparison with the previous closure and reached $52.03 per barrel. This is the first time when the price of Brent crude oil exceeded $52 per barrel since June 10.

Oil price growth accelerated after the publication of the report on oil reserves in the US. In particular, from September 23 to 30, commercial oil reserves in the US, according to the US Energy Department, fell by 3.02 mln barrels to 499.7 mln barrels.

According to a survey by Bloomberg, analysts expected the US oil reserves to grow by 2.56 mln barrels.

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