Benchmark oil prices are rising on August 30 morning on the last working day of summer, Report informs referring to Interfax.

By 8:08 Moscow time, the cost of October Brent futures on the London ICE Futures exchange was $80.18 per barrel, which is $0.24 (0.3%) higher than at the close of the previous trades.

The day before, these contracts increased in price by $1.29 (1.6%), to $79.94 per barrel. The exchange circulation period of October Brent futures expires with the end of the session on August 30.

More actively traded November contracts are rising in price during the trades by $0.22 (0.28%), to $79.04 per barrel. WTI oil futures for October on the electronic trading of the New York Mercantile Exchange (NYMEX) increased in price by $0.18 (0.24%), to $76.09 per barrel. On August 29, the contract rose in price by $1.39 (1.9%), to $75.91 per barrel.

Tensions in the Middle East are supporting quotes. Another positive factor for the oil market was the statistical data published the day before, confirming the stability of the US economy.

The estimate for the country's GDP growth in the second quarter was revised upward, to 3% in annual terms from the previously announced 2.8%.