Oil rising in price

Global oil prices are rising after falling 7-9 percent last week, marking the strongest decrease since October, according to trading data, Report informs referring to Prime agency.

As of 8:58 (GMT+4), the price of November futures for Brent crude oil grew by 1.84 percent, to $65.64 per barrel, and the price of October futures increased 1.8 percent, to $66.35 per barrel. September futures on WTI oil rose in price by 1.82 percent to $63.24.

Almost 2 percent growth in the oil market is observed on August 23, after the decline a week earlier by an average of 7-9 percent. Investors’ pessimism was fueled by fears of uncertainty in economic recovery due to the COVID Delta strain outbreaks.

Oil prices growth is supported by the weak dollar, the index of which (the dollar exchange rate against the basket of currencies of six countries - the leading trade partners of the US) decreased by 0.18 percent, to 93.33 points.