Oil prices rose today at the beginning of the week’s trading in the oil market, for futures contracts for August delivery, and they maintained the gains they made during the past week, as Brent oil now recorded an increase of nearly 0.55%, and the value of crude oil futures contracts for July delivery also increased by approaching 0.50%.
Oil prices today in Saudi Arabia
Today, the price of a barrel of Brent oil rose above $120 a barrel, to return to what it was 3 months ago, as the value of futures contracts for August delivery rose by 0.66 points and a change rate of 55% in the positive direction, to be trading at $120.44 per barrel at 6:00. :20 GMT, compared to the opening price, which came at $119.90 a barrel, while the session started with an upward price gap, compared to the last closing price of $119.72 a barrel, and Brent oil is expected to reach its highest level today at $121.85 a barrel. , while reaching its lowest level at $119.64 a barrel.
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Crude oil prices today
The value of crude oil today, for future contracts for July 2022 delivery, also rose by 0.61 points, and a change of 0.51% in the positive direction, to be trading at $119.54 a barrel, compared to the price at the opening of today’s session of $119.2 a barrel. On an upward price gap, compared to yesterday’s closing price of $118.87 a barrel, the price of crude oil is expected today to reach its highest level at $121 a barrel, while reaching its lowest level at $118.97 a barrel.
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Saudi Arabia raises the selling price of crude to Asia more than expected
The Kingdom of Saudi Arabia, the largest producer and exporter of petroleum, raised the prices of Arab Light crude exported to Asian countries next July by 2.1 dollars a barrel, to a value higher than expected, which did not exceed 1.5 dollars a barrel, amid the control of concerns about the scarcity of supply and the high strength of demand.