MOSCOW, 30 Sep — PRIME. World oil prices are rising on Friday afternoon after a slight morning decline, quotes are supported by the risks of a shortage of supply of this raw material on the market, according to trading data and analysts’ comments.
As of 13.41 Moscow time, the price of December futures for Brent crude grew by 0.24%, to $87.36 per barrel, November futures for WTI — by 0.18%, to $81.38. In the morning oil became cheaper by 0.3-0.4%.
Despite a noticeable drop in oil prices in recent years, analysts note the continued shortage of this raw material on the market.
“Supply-related risks remain a supporting factor,” Ole Hansen, head of commodity strategy at Saxo Bank, told Bloomberg. In particular, Hansen said, this concerns a possible reduction in OPEC + production.
Nevertheless, oil prices are preparing to end the quarter with a decline for the first time since 2020 – since the beginning of the current quarter, Brent has fallen in price by 23.8%, WTI – by 23.2%.