Oil prices continue growing in Tuesday’s trading after last week’s serious fall.
Brent futures for April settlement rose to $ 62.98/bbl Tuesday morning, which is 39 cents or 0.62% higher than the previous value. At the same time, 1 contract cost dropped to $62.59/bbl on Monday evening at ICE Futures Europe, which is 2 cents or 0.32% lower than the previous value.
WTI futures for March settlement rose to $ 59.61/bbl Tuesday morning, which is 32 cents or 0.54% higher than the previous value. At the same time, 1 contract cost grew to $59.29/bbl on Monday evening at NYMEX, which is 9 cents or 0.15% higher than the previous value.
The day before, the U.S. Energy Information Administration voiced a forecast that 7 biggest companies were expected to increase shale oil production in the US to 6.756 million B/D. At the same time, the estimation of February production volumes was revised from 6.55 million B/D to 6.65 million B/D.