Optimistic about demand, oil prices increased by 1%

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Brent oil futures rose 85 cents, or 1.3 percent, to $ 67.27 a barrel.

WTI oil futures price increased 92 cents, or 1.5%, to $ 63.86 / barrel.

OPEC and its ally, OPEC +, kept their plan to increase production from May to July as agreed in early April, showing that the alliance is confident in the recovery momentum of demand.

“The market is supported by the common belief that Covid-19 is coming to an end,” said Tamas Varga, an analyst at PVM Oil.

Crude inventories in the US for the week ending April 23 rose 90,000 barrels, according to the US Energy Information Administration (EIA), lower than the 659,000-barrel increase forecast from analysts. Refined product inventories fell 3.3 million barrels while refining rate reached 85.4% of maximum capacity, the highest since March 2020.

OPEC + earlier this week forecasts global demand this year to grow by 6 million barrels a day, after falling 9.5 million barrels a day last year because of the pandemic.

Precious metal

Gold price on April 28 increased after the Fed kept the interest rate policy, reaffirmed to continue supporting the economic recovery momentum.

Spot gold price on New York floor increased 5.7 USD to 1,781.5 USD / ounce.

The futures price of gold decreased by 0.3% to 1,773.9 USD / ounce.

Spot gold price on the New York floor on April 28.

Silver price kept at 26.23 USD / ounce.

Price of platinum decreased 0.4% to 1,223.38 USD / ounce.

Source: ndh.vn – Translated by fintel.vn