World oil quotes show growth

MOSCOW, Sep 27 – PRIME. World oil quotes are rising on Tuesday morning after falling the day before, according to trading data.

As of 7:34 Moscow time, the price of December futures for Brent crude grew by 0.72%, to $83.46 per barrel, November futures for WTI – by 0.68%, to $77.23.

On Monday, oil quotes fell noticeably: Brent fell by 4%, from about $86, and WTI – by 3.6%, from $79.5. At the same time, the price of Brent fell below $83 for the first time since January 11. The fall in quotes was due to fears about a recession in the world and the subsequent volatility of the markets with the departure of traders from risk, experts noted.

Markets also paid attention to the statement of Iraqi Oil Minister Ihsan Abdul-Jabbar. So, he said in an interview on television that the OPEC + countries are monitoring the situation around oil prices, wanting to maintain a balance in the markets, and do not want a sharp increase or fall in quotations, Reuters writes.

Supports the rise in oil prices on Tuesday and the dollar. Thus, the dollar index (the exchange rate against a basket of currencies of six countries – US trading partners) decreased by 0.37%, to 113.68 points. A cheaper dollar makes commodities, including oil, more available to buy in another currency.