World oil prices continue rising

28 July 2017 15:35 (UTC+04:00)

Baku, Azerbaijan, July 28

By Elena Kosolapova - Trend:

World oil prices continue rising on July 28.

The price for September futures of Brent oil has increased by 0.41 percent to $51.7 per barrel as of 7:17 a.m. EDT (UTC-4).

The price for September futures of West Texas Intermediate (WTI) rose by 0.08 percent and stood at $49.08 per barrel as of &:17 a.m. EDT (UTC-4).

The US Energy Information Administration (EIA) in its July 2017 Short-term Energy Outlook forecasts average price for Brent oil at $50.79 per barrel in 2017 and $51.58 per barrel in 2018.

WTI oil prices are forecast at $48.95 per barrel in 2017 and $49.58 per barrel in 2018, according to the EIA.

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