Oil prices grow: Brent – $52,8 for barrel, WTI – $50,27

World oil prices grow on Tuesday morning as investors continue to win back news about possible extension of sanctions from the USA against the oil sector of Venezuela. Data of the biddings demonstrates it.

As of 08:14 Moscow time cost of October futures for the North Sea oil mixture of the Brent brand grew for 0,15% � up to 52,8 dollars for barrel. The price of September futures for WTI crude oil rose up by 0,2%, to 50,27 dollars for barrel, RIA Novosti reports.

Traders continue to win back news that the USA can expand sanctions against the oil sector of Venezuela. On Monday the Ministry of Finance of the USA reported that the country imposed sanctions against the president of Venezuela Nicolas Maduro for "undermining democracy". However sanctions against the oil industry of Venezuela have not been imposed yet, the Market Watch agency notes.

According to analysts of Commerzbank whose opinion is given by the agency, imposition of sanctions against the oil sector of Venezuela can lead to decrease in the offer in the market and, respectively, to increase in prices for oil.

At the same time investors continue to react to messages that the technical committee of experts of the countries of OPEC+ will hold on August 7-8 in Abu Dhabi meetings with some agreement parties on reducing oil extraction with the purpose to discuss accomplishment of the liabilities by them according to the transaction.

The data from the Ministry of Energy of the USA on average daily production in the country published on Monday contain growth of the world oil prices. According to department, production of "black gold" in the USA in May grew by 3,6% in annual terms � up to 9,169 thousand barrels a day. Growth in monthly expression is fixed at the level of 0,6%.

Source: NEBIT-GAZ