Prices of a barrel of Brent and Texas oil today, July 4: how much does it cost and how much is it quoted?

The volatility in the oil prices continues.

For this Monday, July 4, Independence Day, the prices of a barrel of Brent and West Texas Intermediate (WTI) crude oil saw a slight increase.

The recovery in crude oil prices is a result of concerns over supply shortages, unrest in Libya and sanctions on Russia. These actions counteract fear of a global recession affecting demand.

“The risk is tilted to the downside as traders are concerned about slowdown in oil demand due to the strong possibility that an economic recession occurs in the United States and other parts of the world”, said Naeem Aslam of Avatradeaccording to information collected by Infobae.

According to Reutersexperts assure that the risk will continue to trend lower as traders worry about slowing demand due to the possibility of a global economic recession.

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Prices of a barrel of Brent and Texas oil today, July 4: how much does it cost and how much is it quoted?

According to the most recent update of Oil Price Chartsfamous website with more than 150 global crude oil indices and blends, the price of a barrel of Brent crude oil is at $112.94 dollars, while West Texas Intermediate is trading at $109.65 dollars per barrel.

Oil prices rose slightly as at the end of the week on Friday, July 1 the costs for a barrel of Bren crude were $111.63 dollars, while WTI closed at $108.43 dollars per barrel.

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It is anticipated that increasing supply outages colliding with a potential shortage of spare production capacity at Middle Eastern producers, forcing prices higher one more time.



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