Oil Surpassed $86

On Friday, October 23rd, oil trading ended with growth. The price of Brent grade rose 1.32% to $ 85.85. The growth of prices is supported by the energy crisis in Europe. The gas price remains above $ 1000 per 1,000 cubic meters.

Baker Hughes released US drilling activity Friday night. The number of active drilling rigs decreased by 2 units, to 443 units. In Canada, the number of installations decreased by 5 units, to 93 units. The number of gas installations in the USA and Canada has grown by 2 units in aggregate - slightly more supply.

The prices were also supported by expectations that the supply of oil on the world market will remain limited until the end of 2021. The decline in oil inventories will further stimulate buyers to buy oil futures.

On Monday, October 25, at trading in Asia, the price of Brent crude exceeded $ 86 per barrel. The price climbed to $ 86.38. If buyers close the day above $ 86.25 today, the road to the $ 90 level will open for them. Support is the level of 83.30. Growth can be inhibited by the delta strain. China expects an increase in the number of cases of Covid-19 infection in the coming days.