World Oil Price Today Brent was $ 2 and 2 cents
report Mehr News Agency Oil prices rose in the first hours of trade in Asia on Wednesday. The news of the decline in US crude oil reserves has raised the price of oil, which had reached the lowest in the past six months.
Brent oil North Sea today rose 2 cents, equivalent to 2.9 percent to $ 2 and 2 cents. Oil West Texas USE is also traded at 2 cents, equivalent to a $ 5.5 percent increase and 2 cents.
The US Oil Institute said its crude oil reserves have fallen by 6,000 barrels a week ending February 9. The official information will be released today. Analysts had predicted an increase of 1.5 million barrels.
The report somewhat calmed down concerns about the increase in oil supply around the world. The news and the weakness of the US -German economy had lower oil prices more than 2 % on Tuesday.
Oil Brent rose to the lowest level from December 5 and the US Oil reached the lowest level by December 10th.
US economic information shows that consumer confidence in February has had the worst performance over the past 5 and a half years and one -year inflation has increased. In this regard, the German economy has been smaller in the last quarter of the season.
Oil prices are also affected by concern over Trump’s tolls against China and other business partners to the economy.
Although US sanctions could reduce Iran’s crude oil exports by 5 million barrels a day, it is hoped that members of the OPEC Plus coalition will offset Iran’s lack of oil by increasing oil supply to the market in the coming months. P>
In this regard, the US and Ukraine have reached an agreement on the provisions of the Mineral Resources Agreement, which is part of Trump’s attempt to end the war in Ukraine. The end of the war opens the way for more Russian oil supply.
