Brent crude exceeded the price at $ 105 per barrel
On Monday morning trading Brent crude oil rose to a four-month minimum (which was set in the previous session), but concerns about the glut in the market so far outweigh the fears of violence in the Middle East and North Africa.
On forecasts of a surplus of oil on the African and European markets brought down Brent by 3.3%, despite the geopolitical tensions in Iraq, Libya and Ukraine last week.
Strong US economic data, which showed that oil demand will improve, could not support the prices in the world's largest economy. Pressure and rate of a fall in oil prices is likely to continue, according to Rik Spuner of CMC Markets.
Now futures
Brent crude oil rose to $ 104.96 per barrel
after it fell on Friday to $ 104.84
barrel, the lowest closing level
April 2.
Schedule of Brent crude for September delivery:
Futures on the US
light oil (mark WTI)
rose 14 cents to $ 98.04.
Schedule for WTI crude oil for September delivery:
"We expect the Brent
It will be traded in the lower
range for most of the
the third quarter, unless there is an escalation of
geopolitical conflicts"- wrote
Morgan Stanley analysts in the analysis on Monday.
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