Oil is stable after the rise of the prices on the eve

Investing.com – Yesterday, oil prices, declined at the beginning of trading, moved to growth in the afternoon after the Organization of Petroleum Exporting Countries (OPEC) in its monthly report announced its readiness to support the stability of the oil market.

The price of black gold has updated on Monday local highs since November 2014 on fears of traders regarding cutting supply to the world market as a result of renewed sanctions against Iran.

Following the trades on May 14, the value of the July contract for Brent crude on the ICE Futures exchange in London increased by $ 1.11 (1.44%) to $ 78.23 per barrel.

June futures on WTI on the New York Mercantile Exchange NYMEX went up by $ 0.26 (0.37%) to $ 70.96 per barrel.

Today, oil prices continue to rise slightly.

June futures for Brent crude oil till 7:58 Moscow time grew by 6 cents (0.08%) – to $ 78.29 per barrel.

Quotes of the June WTI oil contract added 2 cents (0.03%) to $ 70.98 per barrel.