One percent jump in oil prices

The price of oil in today’s transactions in the global market once again witnessed an upward trend.

According to the Reuters news agency, the price of oil in today’s trading in the world market saw a 1 percent growth due to the decrease in commercial reserves of American crude oil.

Accordingly, North Sea Brent oil was traded with an increase of 70 cents to $81 and 71 cents per barrel. The price of US West Texas Intermediate oil also increased by 63 cents to 77 dollars and 59 cents per barrel. 

The latest weekly reports about the US commercial oil reserves show that these reserves have witnessed a decrease of 3,700,000 barrels, which affected the increase in oil prices in today’s transactions.

Also, the amount of American gasoline reserves also saw a decrease of 5,600,000 barrels. It is now the summer holiday season in the Northern Hemisphere, and analysts are hopeful that the energy market will witness good days as the demand for crude oil increases. 

Translator: Abulfazl Hashemi