Oil quotes continue moderate growth on Friday and end the week on a positive note. The current quote of Brent oil is $76.60, at the moment the price was rising to $77.09 per barrel. North American WTI oil shows similar dynamics: the current quote of the asset is $71.60, the daily maximum is marked at $72.39 per barrel. The market was supported by statistics from the US Department of Energy on crude oil reserves in the country. According to the weekly report, commercial oil reserves in the States decreased by 1.5 million barrels.. Gasoline stocks decreased by 2.5 million barrels, and distillates – by 1 million barrels. Analysts expected a more significant reduction in oil reserves: oil – by 3.6 million barrels, gasoline – 1.7 million barrels and distillates – 700 thousand barrels. The information about Saudi Arabia's increase in prices for most types of oil for buyers from different regions had an additional impact on the oil price rate. In August, the Saudis plan to raise prices for all grades of oil for buyers from the United States, Northwestern Europe, and the Mediterranean. Some grades of oil will also become more expensive for buyers from Asia.
QUICK LINKS
Contact Us 
