Oil prices rose due to the next decline in world reserves.
The price of a barrel of light sweet crude in the US gained 79 cents reaching $51.03 for May delivery on the New York Mercantile Exchange (NYMEX).
In London, North Sea Brent’s barrel price gained $1.05 reaching $54.17 in the contract for June delivery at the Intercontinental Exchange (ICE).
We hear about a decline in the oil reserves currently transiting the seas,”
said Mike Lynch of SEER.
That seems to be an encouraging sign for the recovery of the market in the coming months.”
The OPEC and other countries such as Russia imposed precise production caps since January, but for some weeks now, markets seem to be impatient to wait for such measures to be reflected in a decline in world reserves.