Breaking News —
Madrid, June 3 . .- The price of a barrel of Brent oil for delivery in August has started the session on Wednesday upwards in the London futures market, and rises 1.52%, to stand above the $ 40 ($ 40.17).
In the previous session, Brent already rose another 3.31% due to the market expectation that the Organization of Petroleum Exporting Countries and its allies (OPEC +) reach an agreement this Thursday to extend the current production cuts.
Analysts believe Saudi Arabia wants to keep the 9.7 million barrel cut for the next few months, a possibility that Russia could access.
Likewise, economic reopens have also boosted the price of crude oil, which has been severely affected in recent months by the slowdown in activity and the economy that has occurred globally due to the coronavirus.
Likewise, the price of Texas intermediate oil (WTI), the benchmark in the US, ended yesterday with a significant rise of 3.87%, to $ 36.81 a barrel, also encouraged by the possibility that There is an agreement between OPEC + to extend the current production cuts and balance the market.
Today, and before the official opening of the market, WTI futures contracts for delivery in July advance 2.31%, to $ 37.66.