Sunday, October 15, 2017

Oil prices have risen due to the fires in Canada

Oil prices have risen due to the fires in Canada

Oil prices rose on supply disruptions due to forest fires in Canada, as well as because of the worsening of the civil war in Libya, which could hit production of "black gold" in the country.

By one o'clock, Moscow time, the cost of Brent crude was close to $ 45.50 per barrel, while the price of WTI was slightly below $ 45 per barrel.

The fire in the oil sands of Canada has forced some local companies to reduce production.

The focus of investors were also data from the US Energy Information Administration. The sharp decline in US oil production, while the growth of the raw material reserves to a new record gives investors cause for reflection on the future of the oil market.

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