Oil prices are set to fall rather than rise
On Friday, July 30, oil prices rose, although not too significantly: the Brent price rose 0.2% to $74.9 per barrel, the freeze near the coveted $75, and the WTI price rose 0.3%, to $73.28 per barrel.
A Baker Hughes report on Friday showed that in a week, the number of active rigs in the United States interrupted growth and fell by 2 units, and thereby pushed oil prices up. On the other hand, the growth of oil quotes is constrained by statistics on the slowdown in business activity in China.
Today in the morning oil prices go down on media reports that India is selling “black gold” reserves from the strategic reserve to contain rising oil prices: at the moment, the price of Brent falls by 0.45%, and the price of WTI – by 0.46%. We again predict the price of Brent corridor at $74-75 per barrel.