The price of a barrel of “Brent” is at the highest level in 5 months

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Reuters

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Oil prices rose, during trading on Monday, while Brent touched its highest level in 5 months, supported by a 30% reduction in crude supplies from Abu Dhabi.

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Brent crude futures rose, by 06:56 GMT, by 1% to $ 46.27 a barrel.

Before that, Brent crude rose to $ 46.38 a barrel, the highest level since last March.

US West Texas Intermediate crude reached $ 43.25 a barrel, up by 0.7%.

The Abu Dhabi National Oil Company (ADNOC) informed its customers today that it will reduce supplies in October by 30%, as part of the UAE’s commitment to the OPEC + agreement.

Source: “Reuters”

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