Brent crude has risen in price on 5%

Brent crude on Tuesday rose nearly 5%, according to data the London exchange ICE. As of 20:49 MSK cost of a barrel of Brent for delivery in September cost $of 48.51, which is 4,82% higher relative to the start of the auction.

At the opening of trading, a barrel of Brent was trading at $of 46.09, while at the close of yesterday’s trading session at $46,25. The price of August crude oil futures of Texas crude oil also rose Tuesday to nearly 4.5 percent to $46,77 per barrel

“We tested the lower bound of the range of $45-50 yesterday. Prices fell below $45, and then again began to buy oil,” he told Bloomberg bill O Grady, chief market strategist at Confluence Investment Management Fund that manages $9.4 billion.

According to a survey by Bloomberg, the market expected observed for seven weeks of declining reserves of American oil. According to the energy information Administration, oil reserves in the U.S. for the week ending July 1, down 2.2 million barrels to 524,4 million barrels.

Earlier in the day July 12, support to oil quotations was rendered by the publication of the report of OPEC, the cartel forecasts a growth in world oil demand by 1.2 million barrels a day next year to 95.3 million barrels a day.

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