The price of a barrel of US West Texas Intermediate (WTI) rose $ 1.91 to $ 61.15.
Oil prices have thus moved back towards their highs over the course of a year, having interrupted the most recent high at the end of last week and falling significantly. Once again, prices rose from the USA, where extremely cold winter weather led to logistical problems in the oil supply. In addition, there is the general trend of rising raw material prices, which is mainly due to the hope of an economic upturn as a result of progressing corona vaccinations.
Brent price could rise to $ 75 in summer
Market observers also referred to a price forecast by Goldman Sachs. Commodities experts at the US investment bank expect oil prices to rise further in the coming months. According to this, the price of Brent could rise to $ 70 a barrel in the second quarter and reach $ 75 in the summer months. Goldman Sachs has raised the previous forecast by ten dollars.
A good week before the next meeting of the Opec + oil network, there is still no uniform line for future funding policy. According to a report by the Bloomberg news agency, oil giant Saudi Arabia wants to keep production constant, while second oil giant Russia wants to expand production. At the moment, Saudi Arabia in particular is helping to support prices with reduced production.