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Brent prices rose moderately, while rising above $ 102 per barrel, while WTI oil prices fell slightly. Support prices have geopolitical problems in Ukraine and Libya, while the increased bid restrains growth.
It is learned that Libya has shipped a second tanker from the port of Es Sider, despite fighting in the capital Tripoli on the weekend. Last week, Libya has increased oil production to 612,000 barrels per day, compared with 1.4 million a year ago. Meanwhile, data showed that the export of oil from Iraq in July 2014 increased by 5% year on year to 2.442 million barrels per day. Compared with the previous month, the volume of exports has not changed. In June 2014, Iraq exported 2.427 million bpd. Total exports in July were shipped 75.7 million barrels of oil fields located in the province of Basra. Total income from oil exports in July totaled $ 7.742 billion.
Market participants are also waiting for tomorrow's meeting of Russian President Vladimir Putin and the President of Ukraine Petro Poroshenko. Last week, Ukraine named breakthrough of several dozen Russian trucks across the border "direct invasion" by Russia and accused the Kremlin of preparing provocations. Meanwhile, the Russian Foreign Minister Sergey Lavrov said that Russia wants to organize another convoy to Ukraine in the coming days.
"Oil prices are likely to stabilize, so we do not expect them to further decline. Risks to supply are significant, "- said Commerzbank analyst Carsten Fritsch.
This week, investors will be watching a series of key economic indicators of the United States, as market players would like to see further hints on the strength of the recovery and the possible ways of development of monetary policy. On Thursday, the United States, there are data on GDP growth in the second quarter. During the week the United States will also publish reports on orders for durable goods and initial applications for unemployment benefits.
The cost of the October futures on American light crude oil WTI (Light Sweet Crude Oil) to the present moment has dropped to $ 93.50 a barrel on the New York Mercantile Exchange (NYMEX).
October futures price for North Sea Brent crude oil mixture rose $ 0.89 to $ 102.70 a barrel on the London exchange ICE Futures Europe.
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