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Petrol prices today 6.7.2023: Reaching the highest level in 2 weeks

Petrol prices continued to maintain strong upward momentum, bringing both world benchmarks, Brent and WTI, to their highest levels in nearly two weeks.

On July 6, gasoline prices kept increasing momentum. U.S. WTI oil prices rose 2 USD, or 2.9%, to $71.79 a barrel, while Brent futures rose more modestly, just 40 cents, or 0.5%, to 76 .65 USD/barrel. In the previous trading session 1 day, Brent oil rose 1.6 USD/barrel.

Thus, both world benchmark oil commodities are at their highest levels in nearly two weeks. 

The price of Brent crude oil increased sharply when the market "feels" the tightening of supply from the "big guys" in the Organization of the Petroleum Exporting Countries and its allies (OPEC +). On June 5, Saudi Energy Minister Abdulaziz bin Salman said that oil cooperation between Saudi Arabia and Russia is still "growing strongly" as a member of OPEC + and that OPEC + will "do any harm." whatever is needed to support the market".

Source: Young People's Newspaper

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