Oil market review: "black gold" recovers after failure
After a significant drop last week. oil futures started the new week on a positive note. WTI futures rose 0.02% ($0.02 per barrel) to $84.9 per barrel, Brent futures were up 0.07% ($0.06 a barrel) at 86.4.
The reason for last week's decline was the news of a possible interest rate hike by the Bank of China. As a result oil price decreased by 3.3%. For the week, December WTI futures lost $2.93 per barrel, falling to 84.88. The fall of "black gold" for the whole last week amounted to 2.3%.