Bank Of Baku

Oil price rises

Oil price rises
# 16 July 2009 08:31 (UTC +04:00)
Baku – APA–Economics. On July 15, on the New York Mercantile Exchange August crude WTI futures rose $2.02, at $61.54 per barrel, APA-Economics reports. August Brent contract on London’s ICE futures exchange rose by $2.23 and reached $63.09 per barrel.

US Energy Department report on the country’s oil resources caused the increase of oil price in the world market. According to the report, crude oil resources in the country reduced to 2.8 mln – 344.5 mln barrels, petrol resources – 1.5 mln – 214. 6 mln barrel and strategic resources increased 0.7 mln-724.1 mln barrel. The US oil production remained steady 5.171 mln barrel per day.
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