The price of oil continues to rise today

Prices of oil futures jumped more than 2 percent, as oil workers strike in Kuwait almost halved the volume of production in the country, and overshadowed the bearish sentiment.

Thousands of Kuwaiti oil strike a third day to protest against planned pay reform the public sector. Against this background, oil production fell to 1.5 million. Barrels per day, compared with an average of 2.8 million in March. Barrels per day.

"Kuwait supports the strike price of oil," - said Tamas Varga, oil analyst at PVM Oil Associates. At the same time, analysts expect that production will fall short again, and soon, investors will focus on an excess supply on world markets.

"In the coming days, oil production in Kuwait may partially recover due to reallocation of workers to strike is not published, and the use of reserves, which will help to avoid force majeure with loading" - believe experts of Eurasia Group.

Recall, on Sunday, the leading oil producers meeting ended without result: the countries did not manage to come to an agreement regarding the extraction of raw materials freezing. Meanwhile, today the Deputy Minister of oil Javadi Iran said that Iran's oil production may reach dosanktsionnyh levels within two months. Iran has refused to freeze production at the level of January, and wants to return to the level of 4 million barrels per day, on which production was up to the imposition of sanctions.

In the course of trade is also affected by expectations the publication of the American Petroleum Institute (API) oil reserves. If the API reported a significant fall of stocks, oil prices could rise even more. On Wednesday, the US Department of Energy was to publish official data on stocks.

WTI for delivery in May rose to $42.48 a barrel. Brent for May rose to $44.26 a barrel.