The price for Brent oil at London ICE Exchange for June jumped above $ 46 per barrel, reports Gazeta with a reference to Bloomberg. Oil quotes rose against the background of forest fires in Canada, which led to the reduction of supplies from Alberta by 1 million barrels a day. In addition, quotes jumped because of the replacement of the oil minister in the Saudi Arabia.

According to Gazeta, fires of the Canadian forests have led to 40 % reduction of oil production from the bituminous sands of Canada. As for the successor to the chairman of the Saudi oil company, it will be Khaled Al - Faleh, an ally of Prince Mohammed bin Salman.

According to David Lennox , an analyst at Sydney Fat Prophets Fat, the oil market is in a state of caution because of the fires. t supports relatively high  prices for the oil, as the fires are burning near the main production region.

In addition, the analyst notes that the market is affected by domestic changes in the Saudi Arabia. “There is no doubt the Saudi policy is working, we’re seeing declines in U.S. production. The stockpile situation will probably keep any rally from being substantive,” he said.