Oil prices rise slightly

Global oil prices rose slightly on April 27 morning after a noticeable fall in the previous two days, reported from the auction data.

The price of July futures for Brent crude rose by 0.18% to $77.87 per barrel, and June futures for WTI grew by 0.13% to $74.4.

The cost of oil has dropped significantly over the past two days. Over April 25 and April 26, Brent fell 5.92%, and WTI dropped 5.74%.

Markets are waiting for the US Federal Reserve System (FRS) and the European Central Bank’s discount rate meetings to be held in early May. Regulatory decisions may affect oil demand. According to the CME Group, 70.7% of analysts expect the Fed to raise the discount rate by 25 basis points to 5.25%. The rest predict that the indicator will remain at the current level.

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