US oil above $ 60

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The price of a barrel of American oil exceeded $60 for the first time in more than four months on Wednesday. That happened after the US oil stocks showed their strongest decline since July.

Incidentally, for American oil there is a lot less on the oil market than for brent oil. At the end of the afternoon on Wednesday, a barrel of US oil for $ 59.84 was sold, representing a 1.4 percent increase. Brent oil became 1 percent more expensive at $ 66.28 a barrel.

Oil prices have recently been rising again, helped by production reductions at oil cartel OPEC and partners. There are also disruptions in Iran and Venezuela, and of course the continuing uncertainty surrounding trade negotiations between the United States and China.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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