Oil price in Tokyo hits two-year high

The price of oil on the Tokyo Mercantile Exchange during trading increased to its highest value since May 2019. The price was 48 thousand yen ($ 434) per kiloliter (about 6.3 barrels), TASS reports with reference to the exchange.

Brent crude on the London ICE stock exchange rose 0.4% to $ 75.2. WTI cost – $ 73.2 (+ 0.3%).

The global oil market is in short supply: according to Goldman Sachs estimates, it is about 3 million barrels per day. Taking into account the rise in oil prices to $ 75 per barrel, Russia at the forthcoming OPEC + meeting on July 1 may suggest starting an increase in quotas as early as August. Saudi Arabia may take a more cautious stance.

More details – in the material of “Kommersant” “It is difficult to judge the quotas in advance.”

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