After starting the day with a slight fall, Crude oil price rises again as volatility around commodity costs continues.
Crude oil prices hit their highest level in weeks after the failure of the European Union to impose a blockade on Russian oil due to the lack of support from Hungary became known.
In addition to this, investors They bet on a surge in demand as lockdowns in China are eased over a new outbreak of coronavirus. coronavirus, however, the rise in demand is still it is not a reality.
The next May 30 and 31 will be held a summit to reach an agreement on a gradual ban on Russian crude.
“Crude prices remain near multi-week highs, supported by rising gasoline and distillate prices in the United States and fears of a European Union ban on Russian oil imports”, said Jeffrey Halley of OANDAaccording to information collected by Television newscasts.
Prices of a barrel of Brent and Texas oil today, May 17: how much does it cost and how much is it quoted?
According to the most recent report of Oil Price Chartsrecognized website with more than 150 oil indices and mixtures worldwide, the price of a barrel of Brent crude oil for this Tuesday, May 17, is at $114.86 dollars, Meanwhile he barrel of US crude West Texas Intermediate (WTI) is at $114.76 dollars.
Yesterday’s price, at approximately the same time, was $110.83 for a barrel of Brent crude and $109.91 for a barrel of WTI crude.