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Tishwash: High oil prices and “Brent” touches the level of $ 40 a barrel

Oil prices rose today, Tuesday, touching the level of $ 40 a barrel again, supported by signs of recovering demand for fuel, while members of the “OPEC +” group abide by an agreement to reduce production.

According to Bloomberg data, US light crude futures were traded, at 09:10 Moscow time, at $ 37.18 a barrel, an increase of 0.16% from the previous settlement.

Whereas, the international benchmark, “Brent”, touched the level of $ 40 a barrel, as its futures contracts were traded at $ 39.82 a barrel, an increase of 0.25% over the previous closing price.

The oil prices ended yesterday’s trading on a high, with the “Brent” mix recording $ 39.72 a barrel, while the US crude at the settlement reached $ 37.12 a barrel.

The optimism of dealers in the oil market overshadowed fears of a new wave of coronavirus infections, which could lead to a further slowdown in the global economy.  link