Oil prices went from falling to rising during trading on Monday due to renewed concerns about a lack of supply in the global market and supply disruptions.
September futures for Brent on London’s ICE Futures exchange rose by $1.1 (1.07%) to $104.3 per barrel by 13:52 Moscow time.
Quotes of futures for WTI for September in electronic trading on the New York Mercantile Exchange (NYMEX) by the specified time increased by $1.14 (1.2%) – up to $95.84 per barrel.
Last Friday, Brent fell 0.6%, WTI – 1.7%.
Quotes support traders’ fears about the reduction in Russian oil exports due to Western sanctions, writes CNBC.
In addition, the market’s attention this week is drawn to the meeting of the Federal Reserve System (FRS), as a result of which the US Central Bank may again significantly increase the base interest rate. A serious tightening of monetary policy by the Fed, according to many experts, could lead to a recession in the US economy.
