The price of oil is rising, Brent is around $85.4 per barrel

Benchmark oil prices rise on Monday morning.
September Brent futures on London’s ICE Futures exchange by 8:14 a.m. rose $0.38 (0.45%) to $85.38 a barrel. On Friday, their price rose by $0.26 (0.3%), reaching $85 per barrel. August contracts, which expired at the end of earlier trade, were up $0.02 at $86.41 a barrel.
August WTI futures in electronic trading on the New York Mercantile Exchange (NYMEX) added $0.36 (0.44) to $81.9 in the morning. On Friday, the value of these contracts fell by $0.2 (0.2%) and amounted to $81.54 per barrel at the close of the session.
In June, Brent rose by 1.2%, WTI – by 5.9%.
Hurricane season has begun in the Atlantic, and traders are watching to see how it could affect the US oil trade.
As Hurricane Beryl approaches the Caribbean from the southeast, it has strengthened to a category four, the Associated Press reports.
“This is a very dangerous situation,” the US National Hurricane Center (NRC) said. According to its forecast, Beryl will cause a storm surge and pose a threat to life due to its wind speed.

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