Oil price continues to grow after report showed US inventories shrinking, while concern over disruptions in global shipments is growing, Bloomberg reports.

Price of oil in the US rose by 1%. American Petroleum Institute informed in its report that inventories decreased by 4,51 million barrels last week.

Oil is trading at the price last seen in 2014. It seems that supply disruptions from Libya to Canada and Venezuela worry market participants more that output increase by OPEC.

Morgan Stanley increased price forecast to $85 a barrel next year. At the same time, US President continues putting pressure on Saudi Arabia asking to increase output and lower prices for consumers.

Analytics are expecting further increase in price as transition from surplus of raw material to its deficit happened too soon.

WTI oil with August delivery was trading at $74,59 a barrel in New York. Yesterday price closed at $74,14 per barrel after it exceeded $75 level first time since 2014.

Brent oil price grew up 0,5% to $78,16 a barrel.

Shanghai futures lost 0,9% and cost 498,8 yuan per barrel. Yesterday the price closed 0,4% higher.