News 23 february — 09:48

Oil price exceeded $66 (For the first time since Jan. 2020)

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For the first time since January 2020, the price of Brent crude oil exceeded $66 per barrel, RIA Novosti reports.

During the trading, the price of the April futures for North Sea blend oil on the London ICE exchange reached $66.02 per barrel. As of present, it is traded at the level of $65.25 per barrel.

WTI crude oil costs $62.52 per barrel.

In February, prices for hydrocarbons rose continuously until the tenth. The next day the quotes decreased, but by the evening of the 12th they returned to positive territory.

Fuel rises in price after the OPEC+ agreement to reduce production in February-March by a total of 1.425 million barrels per day. Also, the market expects an increase in demand due to hopes for economic recovery and vaccinations.

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