Oil prices returned to growth on Tuesday, after falling by almost 1% in the previous session. Prices are rising for the first time in three consecutive sessions.
At 9:15 Bulgarian time, November futures for the Brent grade rose on the London Stock Exchange ICE Futures by $ 0.69 to $ 74.61 per barrel. On Monday, Brent fell by $ 1.42 (1.88%) to $ 73.92 per barrel.
The price of October futures for the American WTI in e-commerce on the New York Mercantile Exchange (NYMEX) rose by 0.75 dollars to 71.04 dollars per barrel. During the previous session, these contracts fell by $ 1.68 (2.3%) to $ 70.29 per barrel.
The growth of quotations today is supported by signals that part of the production capacity in the Gulf of Mexico will not be restored for several months due to the damage caused by Hurricane Ida, writes Trading Economics.
Oil company Royal Dutch Shell, the region’s largest producer, said its transshipment station would be closed by the end of this year due to damage.
The situation with the Chinese real estate company China Evergrande Group remains a negative factor for the market.
Evergrande’s debt problems raise concerns about the sustainability of China’s economic recovery.
Evergrande will receive interest payments on two bond issues on Thursday, which will be a key test of its financial condition. Last week, the company reported serious liquidity problems and hired advisers to restructure its debt.
The developer delayed the payment of bank loans, as well as payments to suppliers and investors, and over the weekend it became known that he began to pay debts to owners of real estate investment products.
Traders see a high probability of Evergrande’s bankruptcy.
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