OREANDA-NEWS. The cost of the September futures contract for Brent crude oil on the London Intercontinental Stock Exchange rose by 1.68 %, to 45.07 US dollars per barrel as of 09:45 UTC. This is the first time since March 9 when its price exceeds 45 dollars.

Futures for American WTI crude oil for September delivery increased by 0.93 %, to 42.09 dollars per barrel.

Oil prices are growing due to a gradual recovery in demand for raw materials in the world after the lifting of quarantine measures in many countries. Additional support for the raw material market was provided by data on oil and petroleum product reserves in the United States. The American Petroleum Institute reported about a sharp decline in reserves in the country. Over the week, they fell by 8.6 million barrels, to 520 million barrels. Analysts of Reuters agency were expecting a decline of only 3 million barrels.