Brent crude oil rises to $72.24 per barrel
Oil prices rose moderately amid low trading activity due to the holiday in the U.S.
As Report reports, this is evidenced by trading data.
The price of September futures for Brent crude on the London ICE Futures exchange was $72.24 per barrel, which is 0.61% higher than at the close of previous trading.
August futures for WTI crude on electronic trading at the New York Mercantile Exchange (NYMEX) rose in price by 0.51%, to $69.04 per barrel.
The market maintains cautious optimism regarding efforts to resolve the conflict in the Middle East. Oil exports from the Persian Gulf countries are quickly recovering after the opening of the Strait of Hormuz for tanker passage. Saudi Arabia has increased supplies almost to the levels recorded before the start of the military conflict in the Middle East at the end of February.
