Thursday, 23 April 2020 13:33

Energy resource prices rising again

As analysts expected, after a record fall in price below the level of the market "plinth", for the first time since the crisis of 1973 (the blockade of oil exports to world markets by Arab countries) and the immediate construction of oil storage facilities in the United States, oil price resumed the growth. Along with it, gas futures, whose supply price is tied to the oil basket, began to grow. 

The price of benchmark crude rose significantly after the US President Donald Trump's statement that the country's armed forces will open fire on Iranian military boats that are approaching American ships. This is evidenced by today’s (April 23) morning trading data on the London ICE Futures exchange.

June Brent futures jumped $2.18 (10.70%) to $ 22.55 per barrel. WTI futures for June in the electronic session on the New York Mercantile Exchange (NYMEX) rose by $ 1.66 (12.05%) to $ 15.44 per barrel. 

The spread between current Brent and WTI contracts is $ 7.11 in favor of Brent.

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