As of 14:10 MSK, the price of Brent crude oil increased by 4.19% to $ 58.08 per barrel.

By that time, WTI crude oil price grew by 3.68% and was trading at $ 52.31 per barrel.

According to, experts explain the price increase by expectations of decline in oil production in the United States. Earlier it was reported that the US decommissioned 352 oil wells, bringing the total number of operating oil wells to its lowest level in 3 years. A survey conducted by Bloomberg showed that most analysts expect increase of commercial oil reserves in underground storage facilities.


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