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Tuesday 12 December 2017

The Brent with the highest price since 2015

Brent has risen to its highest levels since 2015 today, after an unplanned closure to repair a North Sea pipeline. This has resulted in serious supply difficulties and has helped to raise the cost of raw material.
The Brent with delivery in the next month traded at $64.73 a barrel early this morning.
Raw material has begun to rise before the meeting of OPEC, which reached agreement to extend production constraints by the end of next year. The decision was also backed by Russia.
However, this time, unlike the previous one, OPEC's decision did not lead to a sharp depreciation of the price of "black gold."
More and more analysts are starting to talk about a price of 70 or even $80 a barrel next year. The good performance of the global economy and the possible depreciation of the dollar may be the factors that will predict similar high prices.
Brent peaked yesterday, at $64.93 a barrel, or its highest price since June 2015.
US crude oil was traded at $57.98 a barrel.

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