Norway

Oil prices rounds to 80 dollars

Oil prices rounded 80 dollar barrel and oil-related shares dominated Wednesday’s winning list. The main index increased by 0.69 percent to 906.2 points.

With the exception of Funcom, as with a value increase of 7.8 per cent, Wednesday’s winning share, and Nordic Nanovector (+3.8), only oil-related companies were on Wednesday’s list of shares which increased most in value. Drill Drilling in second place was 7.1 percent, followed by Subsea 7 (+6 percent), BW Offshore Limited (+5.9) and Aker Solutions (+4.8).

Subsea 7 was furthermore the stock that was sold most of the time, and had the third largest sales volume of Wednesday, just off Equinor (+1) and Norsk Hydro (-3 percent).

Shortly after the stock market closed with the main index over 900 points, the North Sea oil rounded the 80 dollar barrel – for the first time since May 17, according to E24. Since the New Year, oil prices have almost increased by 20 per cent, according to Dagens Næringsliv. The price increase Wednesday is due to new figures from the US’s falling stock of crude oil.

American light oil went too close to 71 dollar barrel after having risen 1.5 percent during Wednesday.

Also on the leading European exchanges, it was a positive move on Wednesday. The DAX 30 in Frankfurt ended up 0.1 percent, while FTSE 100 in London and the CAC 40 Index in Paris rose 0.4 and 0.6 percent.

(© NTB)

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