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Oil continues to go up, Brent trades above $85 a barrel

Нефть продолжает дорожать, Brent торгуется выше $85 за баррель

World prices for «black gold» standard grades in the course of today’s trading continue to rise after the jump yesterday, while Brent crude for the first time since November 2014 has confidently overcome a mark of $85 per barrel.

By 8:02 GMT December futures on Brent crude prices rose on the London exchange ICE Futures at $0.13 to $85,11 per barrel. The cost of the November futures for WTI crude oil rose in electronic trading on the new York Mercantile exchange (NYMEX) at $0.25 to $75,55 per barrel, reports «Interfax».

As a senior analyst at «Alpari» Vadim Iosub, «on Monday, oil continued to update the multi-year records». «Trading the week started with a $82,9 per barrel of Brent. Until the beginning of the American trading session prices were almost flat, dropping to $82,4. But from the start of trading in the New world they went up sharply, broke out the resistance at $84,9 reached $85,4, at the end of trading returned to $84,95 per barrel», — said in the review expert.

According to him, «for such a breakthrough is not needed a new reason or statistics». «Markets continued to prepare for the oil embargo the US directed against Iran, and continued to react to Friday’s report oilfield services company Baker Hughes, which showed a decline in the number of active oil platforms in the U.S. for the week for three units up to 863 units,» says Iosub.

In his opinion, «the likely daily range for today’s trading, Brent crude oil is $84,1 at 85.8 per barrel», and «medium-term range, which is defined by the closest significant levels of support and resistance after breakout at $84,9 expanded to 77.7 USD-of 87.9».

«Late in the evening report of the American petroleum Institute on oil reserves. A week earlier they rose by 2.9 million barrels,» — reminds the analyst.

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