Oil prices slightly rise amid fears of shortage in market
08.08.2022 14:00
World oil prices rose moderately on Monday morning amid fears of a market shortage of this type of raw material, Report informs with reference to trading data and analysts' comments.
The price of October futures for Brent crude rose by 0.28% to $95.19 per barrel, and WTI September futures went up 0.25% to $89.23.
Investors' fears about the lack of oil in the market are supported by statistics from China. Bloomberg, citing data from China's General Administration of Customs, said that oil supplies to the country increased in July after a notable decline a month earlier, to a four-year low, and this is a sign of a recovery in demand.
At the same time, fears of an economic recession continue to restrain the growth of oil prices.
www.anews.az
The price of October futures for Brent crude rose by 0.28% to $95.19 per barrel, and WTI September futures went up 0.25% to $89.23.
Investors' fears about the lack of oil in the market are supported by statistics from China. Bloomberg, citing data from China's General Administration of Customs, said that oil supplies to the country increased in July after a notable decline a month earlier, to a four-year low, and this is a sign of a recovery in demand.
At the same time, fears of an economic recession continue to restrain the growth of oil prices.
www.anews.az
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