Oil prices are rising again
INA – Baghdad
Oil prices rose today, Friday, amid hopes of a recovery in demand for crude after being hit by the Corona crisis, in addition to data showing a decline in US oil stocks.
Brent crude futures were trading at $ 42.17 a barrel, up 0.55% from the previous settlement price.
US crude futures, "West Texas Intermediate", were traded at $ 40.55 a barrel, an increase of 0.6% over yesterday's closing price.
Oil prices showed gains today in light of investor hopes for a recovery in global demand for crude, as investors expect that some countries will abandon the imposition of strict quarantine measures, and a second wave of Corona will not affect demand as it did in the spring.