Breaking News —

The WTI brand sells for around $ 38 a barrel.

Brent crude futures for August have risen this Wednesday by 78 cents a barrel (2%), reaching $ 40.35 a barrel at 06:36 (GMT), . reports.

Thus, the price of that brand of oil has returned to the level last registered on March 6, the agency indicates.

For its part, WTI crude also shows the highest price since March 6. It has risen by $ 1.06 a barrel (2.9%) and is now selling for $ 37.87 a barrel.

Avtar Sandu of Phillip Futures told . that the rise in crude could be linked to OPEC + activity, which managed to cut production in early April.

“Traders expect major oil producers to agree to an extension of their huge production cuts to shore up prices,” . quoted Sandu as saying.

On the other hand, the British consultancy firm Capital Economics estimated that the demand for crude oil will rise “as long as the blocking measures related to the virus continue to be lifted,” according to a note quoted by the agency.