Rising oil prices set a record in 2017

The cost of a barrel of Brent has been growing for the seventh trading day in a row.

Oil prices are rising in the course of the longest in the last 17 months of the rally, according to RBC with reference to Bloomberg.

The rise in oil prices continues amid reports on the reduction of oil reserves in the US and expectations for production cuts by OPEC countries and partners of the Alliance, as well as statements by the President of the United States Donald trump on successful trade negotiations with China.

In the course of trading on 8 January, the price of a barrel of WTI crude oil in new York rose to $49,44 (+1.9% against previous closing of trading), the price of a barrel of North sea Brent on the London exchange ICE — up to $58,48 (+2%).

According to Bloomberg, oil prices rise for the seventh trading day in a row, which has not happened since July of 2017.

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