Oil prices have new high amid uncertainties in the Middle East

Even with Saudi Arabia and Russia injecting oil into the market, the price of the barrel operates high this Tuesday, July 3rd. The Brent-type oil for September rose 1.02% at Intercontinental exhange (ICE), passing to US $78, 09, while the price of WTI for August advanced to 1.20%, in the New York Mercantile Exchange (Nymex), at US $74.83.

The value of the barrel operates high amid uncertainty over the duration of the supply interruptions in Libya, where the ports were closed due to the armed struggle that removed 850,000 barrels per day from the global oil market and boosted prices.

There is also concern about rising production by Saudi Arabia and Russia, which in recent months has had a gradual rise. In the Middle East the increase was 600,000 barrels a day, while in Russia the growth was 100,000 barrels a day.

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