World oil prices increase

World oil prices increase
World oil prices increase

World oil prices have risen due to declining supplies and the global spread of the delta strain of COVID-19.

Brent oil futures for September delivery rose 0.25% to $ 75.35 a barrel. WTI futures for August delivery fell 0.31% to $ 74.33 a barrel.

Oil investors continue to assess the risks of a possible reduction in raw material supplies. Investor fears are linked to the spread of the COVID-19 delta strain, which could have a negative impact on oil demand and the recovery of the global economy.

The OPEC + alliance failed to agree on the terms of the deal at two meetings in early July, as the United Arab Emirates maintains a strong position and demands an increase in production quotas. The third meeting was postponed, and the date of its holding is unknown.

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