June 7, 2023

Dubai Week

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Brent crude deals are once again rising above $ 101

Brent crude deals are once again rising above $ 101

Brent crude rose to $ 101.20 a barrel in Asian trade on Friday, a day after Russia’s attacks on Ukraine topped $ 105.
Oil prices rose on Thursday, and Brent rose above $ 105 a barrel for the first time since 2014, lowering its profit below $ 100.
Russia’s attack on Ukraine has raised concerns about disruptions to global energy supplies. After World War II, Russia launched a full-scale occupation of Ukraine by land, air and sea in a major state offensive against another country in Europe.
Brent crude traded up $ 2.24, or 2.3 percent, to trade at 99.08 dirhams a barrel, up $ 105.08 earlier today.
US benchmark West Texas Intermediate crude trades were up 71 cents, or 0.8 percent, at $ 92.81 a barrel after hitting a session high of $ 100.54.
Brent and US crude hit record highs after October and July 2014, respectively.
Prices fell after US President Joe Biden said the United States was working with other countries to jointly release extra oil from global strategic crude reserves.
In the United States, commercial oil stocks rose 4.5 million barrels to 416 million barrels last week, a bigger increase than analysts’ expectations, as voted by Reuters, which pointed to a rise of 400,000 barrels.
But crude oil stocks in the U.S. Strategic Petroleum Reserve are down 2.4 million barrels to 582.4 million barrels, the lowest level since 2002.

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