Oil prices increased by almost 2% on Monday, since strong signs require more than compensated for the impact of an increase in the Opec+ production+ expected for August and new concerns on the potential impact of US tariffs.
Future oil contracts Brent closed $ 1.28, or 1.9%, at US $ 69.58. The intermediate oil of western Texas from the United States (WTI) increased by 1.4%to $ 67.93. At the beginning of the session, Brent had fallen to $ 67.22 and WTI had a minimum of $ 65.40.
“The offer of the offer seems to certainly increasing, however, the strongest question is also to keep expectations,” said Dennis Kissler, senior vice -president of the negotiation negotiations at Bok Financial.
The statistics of the travel sector released last week showed that a record number of Americans traveled for the holidays on July 4 on the street and aerial.
On Saturday, the organization of the oil exporting countries and their APEC+ allies agreed to increase the production of 548,000 barrels on August, exceeding the increases of 411,000 barrels per day in the previous three months.
The OPEP+ decision will bring almost 80% of the 2.2 million barrels of volunteers per day of eight Opec producers on the market, declared RBC capital analysts, led by Helima Croft, in a note.
Source: Terra
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