Brent Oil has risen in price on the background of statements of the President of the United States Donald trump
vantuz / DepositPhotos Growth in futures prices occurred on the background of statements of the President of the United States Donald trump that he hoped that Saudi Arabia and Russia will reduce oil production by 10 million barrels or more
The White House / Flickr
the Cost of June futures for Brent crude on London exchange ICE on the peak grew by 46.7% – to 36.29 per barrel, reports TASS, citing data from the trading platform. But then the growth was replaced by decline and, according to 18:06 Moscow time, Brent traded at 29,91 USD per barrel (+20.9% in comparison with the previous day).
the Price of WTI crude oil is growing by 23.29% to 25.04 per barrel, a peak in the growth reached is 27.39 per barrel by 34.86% above the closing level of the previous trading session.
the Increase in futures prices occurred on the background of statements of the President of the United States Donald trump that he hoped that Saudi Arabiaia and Russia will reduce oil production by 10 million barrels or more. The White house did not elaborate on the decline in production over what period it is. Now the United States, concerned about the risk of visiting the national oil producers, want to take part in the negotiations between Russia and Saudi Arabia in the hope of suspending oil war.
According to the President of the United States, he had a conversation with crown Prince of Saudi Arabia, who previously “spoke with the President of Russia”.However the press-Secretary of Russian leader Dmitry Peskov said on Thursday, TASS reported that Putin had not spoken recently by telephone with Mohammed bin Salman.
Earlier, trump expressed confidence that Russia and Saudi Arabia will at some stage come to an agreement on the situation in the oil market. Thus, according to him, if Moscow and Riyadh will not be able to reach agreement, it has its own course of action to protect the American oil industry. The White house did not specify what kind of plan, but stressed that they would prefer not to use it.I believe that Saudi Arabia is ready to convene an emergency meeting of OPEC to discuss a new agreement to restore balance in the oil market.
In Russia on the background of the appreciated oil have increased stocks of fuel companies. For example, shares of LUKOIL on the Moscow stock exchange jumped by 11.87%, “Rosneft” – by 10.37%, “Bashneft” – 8.46%, preferred shares of Tatneft – by 8.39%, ordinary actions “Tatneft” – by 8.03%, “Gazprom oil” – by 8.08%, NOVATEK – on 6,22%, “Surgutneftegaz” – by 5.97%, preferred shares of Bashneft – by 4.66%.
Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!
— Donald J. Trump (@realDonaldTrump) April 2, 2020