World oil prices are rising on July 3 on the news that the Libyan oil company NOC has announced a force majeure in the loading of oil in two ports. This is evidenced by the auction data.
At 7:48 a.m. Moscow time the cost of the September futures for North sea petroleum mix Brent has grown on 0,58%, to 77,75 dollars per barrel. The price of August futures for WTI oil rose by 0.8% to 74.53 dollars per barrel, RIA Novosti said.
According to traders, interruptions in supplies from Libya are pushing oil prices up, outweighing the June growth in supply of raw materials from the OPEC countries. According to the Agency, OPEC oil production in June amounted to 32.32 million barrels per day, which is 320 thousand barrels per day, or 1% higher than the may figure. In addition, this is the highest level of production by the member countries of the organization since January 2018.