Oil prices rose during trading on Tuesday, amid expectations that US inventories will continue to decline for the eighth consecutive week from last week, and follow up on the latest developments with OPEC +.
Toshitaka Tazawa, an analyst at commodity trading company Fujitomi, stressed that optimism about falling inventories in the United States was supporting demand, but noted there were still growing concerns about The increase in the number of Corona injuries around the world and the uncertainty about the production plans of OPEC +.
On Monday, sources told Reuters that the OPEC + alliance has not yet made progress in resolving the dispute over production levels starting next month, and that Russia is working to restore Divided parties come to the negotiating table and reach an agreement.
In terms of today's trading, Brent crude futures for September delivery rose by 0.2% to reach $75.34 a barrel.
The US NYMEX crude contracts for August delivery also rose by 0.3% at the level of $74.31 a barrel.
The American Petroleum Institute will reveal later today, the preliminary crude stockpiles data for the past week.
