Benchmark oil prices are moderately rising on Friday morning after a slight decline the day before, which did not prevent the quotes from ending in the black for the second month in a row.
The price of May futures for Brent on the London ICE Futures exchange at 7:01 a.m. is $82.19 per barrel, which is $0.28 (0.34%) higher than at the close of the previous session. On Thursday, these contracts fell in price by $0.24 (0.3%) to $81.91 per barrel.
Quotations for April futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) by this time increased by $0.21 (0.27%) to $78.47 per barrel. At the end of the previous session, the contract fell by $0.28 (0.4%) to $78.26 per barrel.
In February, the price of Brent rose by 2.3%, WTI – by 3.2%, despite “various forces that put pressure on the global commodity market,” said FXTM analyst Lukman Otunuga.
“In any case, prices remain in a fairly wide range, and it will take a fundamental stimulus to shift the balance of power towards bulls or bears,” he said in an interview with MarketWatch. – “This could be an extension of OPEC+ supply cuts, increased geopolitical tensions, or a pleasant surprise from the Chinese economy.
