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The expert predicted the price of Brent oil no more than $ 107 per barrel

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September futures prices for Brent oil will remain in the $100-107 zone per barrel. This was stated to Izvestia by the managing expert of the PSB Ekaterina Krylova on Wednesday, July 27.

According to the London ICE exchange, September futures for Brent costs $104 per barrel. The day before, the price fluctuated between $104-107 per barrel, eventually closing in a weak minus, Krylova noted.

“The spread with the more active October contract is currently $1 in favor of the September one. In general, the energy market is waiting for the outcome of the US Federal Reserve meeting, as a result of which it will be important not so much the fact of raising the key rate (this is already in the price), but the regulator’s view of the future,” the expert said.

From the news, we note the preliminary good statistics on stocks from the American Petroleum Institute: crude oil inventories fell by 4 million barrels, and gasoline stocks – by 1.1 million barrels, the PSB expert said.

This Wednesday will be data from the US Department of Energy – more remarkable in terms of demand, she added. However, against the backdrop of the Fed meeting and Washington’s decision to release an additional 20 million barrels from the strategic reserve to stabilize fuel prices, most likely, these data will be invisible, the specialist concluded.

Speaking about the prices of the Russian grade of oil Urals, Associate Professor of the Russian University of Economics. G.V. Plekhanov Denis Domaschenko noted that his basic long-term forecast coincides with the vision of the Central Bank.

“Next year, Urals will cost $70 per barrel, then lower, around $60,” he said.

The Central Bank raised its Urals oil price forecast for 2022 to $80 from $75 per barrel, according to the regulator’s materials dated July 27. The forecast for 2023 has been increased to $70 from $65 per barrel, and for 2024 to $60 from $55 per barrel.

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