MOSCOW, 31 Aug — PRIME. World oil prices on Wednesday morning are rising by more than 1% after yesterday’s fall, markets are evaluating the prospects for a decrease in supply, as well as a decrease in stocks of this raw material in the United States, according to trading data and analyst comments.
The head of Gazprom Neft noted the stability of world oil prices
As of 8.32 Moscow time, the price of November futures for Brent crude oil is growing by 1.14%, to $98.98 per barrel, October futures for WTI – by 1.18%, to $92.72.
The cost of oil on Wednesday morning is rising, while investors assess the prospects for a shortage of this raw material in the market. Thus, they continue to reinforce the expectations of the words of the famous entrepreneur Elon Musk that soon humanity may need more oil and gas, as well as the statement of the Minister of Energy of Saudi Arabia that OPEC may reduce its production.
Investors are also awaiting official US Department of Energy statistics on commercial stocks in the country over the past week, which will be published later in the evening. Analysts expect a decline in oil inventories by 1.5 million barrels.
“The main theme is pessimistic macroeconomic expectations coupled with limited supply due to low inventories,” Zhou Mi, an analyst at the Chaos Research Institute in Shanghai, told Bloomberg.
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