Oil prices set at level of $40

Oil prices set at level of $40

This morning oil prices stabilized after the price of the "black gold' dropped yesterday following signals that the overproduction of energy in the world is continuing, as well as warnings of experts that the rise in prices to the level of $40 per barrel may be temporary.

Goldman Sachs analysts believe that the collapse in commodity markets is not over yet and prices should stay low even for some time, resulting in signs of rebalancing.

As of 08:00 the price of futures of Brent crude oil rose 0.2% to $39.74 per barrel. March futures for WTI rose 0.3% to $36.60 per barrel at the New York Mercantile Exchange (NYMEX).

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