Oil prices rose by almost three percent after the U.S. confirmed the possibility of an oil union with Saudi Arabia, according to data from the London Stock Exchange ICE.
The value of the benchmark Brent reached 27.93 dollars per barrel, an increase of 3.33 percent. At its peak, it rose above $ 28. WTI oil grade has added 3.85 percent since the beginning of the day, while the price has reached $24.25.
The rise in the cost of raw materials has dispersed a statement by U.S. Energy Secretary Dan Bruyette, who confirmed that the U.S. is looking for ways to stabilize the oil market. According to him, the idea of an alliance with Saudi Arabia has not been officially presented and may not be approved, but it is among the possible options.
Earlier the American mass media already indicated that the US Energy Ministry is trying to convince the White House of the necessity of such an alliance to avoid problems in its own oil shale industry. In addition, U.S. senators have written a letter to Saudi Crown Prince Mohammed bin Salman asking him to give up the sharp increase in oil production. Otherwise, they said, the partnership between the two countries would be in jeopardy.
U.S. President Donald Trump promised to intervene in the oil war between Russia and Saudi Arabia, as a result of which the cost of oil falls by almost half.