Oil Rises to More Than $32

Date: 06 May 2020 - 21:38

News ID: ۷۸۳۱۱

MOSCOW (Sputnik) - The Brent crude oil price has risen to more than $32 per barrel for the first time since 14 April, according to market data.
The price for July futures of Brent has risen by 17.9 percent, up to $32.06 per barrel, while June futures for WTI oil as of 00.52 Moscow time (21:52 GMT) went up by 24.28 percent, to $25.34.
Amid global oil market struggles to overcome the aftermath of the coronavirus-caused crisis, the Russian Finance Ministry forecasts an average oil price of about $30 per barrel in 2020, expressing hopes that the figure will be slightly higher in 2021.
"As for forecasts, this year we are expecting about $30 per barrel [on average for the year], next one - slightly more,” Russian Finance Minister Anton Siluanov said in an interview with the Vedomosti business daily.
As countries announce plans to gradually lift coronavirus lockdowns, optimism has risen among the investor class, despite that oil prices slumped earlier in the week due to the possibility of a new round of the U.S.-China tariff war.