Crude prices start their rally / REUTERS
The price of one tonne of crude oil in October was US$300.9.
The actual selling price of crude oil and condensate in Ukraine, which is used to determine the amount of payment for the use of subsurface resources, in November 2020 increased by 6.8% compared to October 2020, to UAH 9,000 (US$320.5) per tonne.
The relevant information is posted by the Ministry for Development of Economy, Trade and Agriculture on its website.
The actual selling price of crude oil and condensate in Ukraine in October 2020 was UAH 8,450 (US$300.9) per tonne.
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In October, the World Bank raised its forecast for prices of crude oil to US$41 per barrel in 2020 and to US$44 per barrel in 2021.
Prices of crude oil fell on October 29 to their lowest level since the middle of June. Crude oil continued seeing a sharp decline after a 5% drop the day before due to the potential impact of renewed limitations on oil demand.
According to Reuters, oil rose on Friday, December 11, extending a sharp rally overnight that saw Brent rise above US$50 for the first time since March, as coronavirus vaccination rollouts kept hopes alive that demand for crude would build up next year.
Brent was up 11 cents or 0.2% at US$50.36 a barrel by 0427 GMT, after gaining nearly 3% on Thursday, December 10. U.S. oil was up 14 cents, or 0.3%, at US$46.92 a barrel, having also risen almost 3% in the previous session.
"That leaves prices set for a sixth consecutive week of gains as promising vaccine trials helped quell gloom over record increases in the number of new infections and deaths around the world in the coronavirus pandemic," Reuters said.