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LONDON – The price of oil rose Monday on both sides of the Atlantic, despite investors' cautious outlook on supply, after rising nearly 5% since mid-July.
The good signs of the US economy have been decisive for the market, although gains have been limited by trade tensions between the United States and China, which continue to weigh on the futures markets.
A report by the Washington government indicated that the economy grew in the second quarter at its fastest pace in almost four years.
Brent futures for October delivery rose 1.02% to $ 75.53 per barrel. The September contract expires on Tuesday.
For its part, the WTI crude oil futures rose by 2.14% to 70.14 dollars per barrel for delivery in September.
The price of oil has almost recovered Over the past two weeks, while imminent sanctions against Iran have begun to restrict oil flows from this country.
The US economy grew at its fastest pace in nearly four years in the second quarter, but with Washington and Beijing amidst a trade war, oil prices could have problems this year. week, according to badysts.
US energy companies added three oil rigs during the week ending July 27, the first time in the past three weeks that drillers have increased their activity, according to data released Friday. from Reuters and Notimex.
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