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Oil prices returned to growth


April, 23 2024
watermark Economic news

On Tuesday evening, oil prices began to rise again as investors assessed the situation in the Middle East. During the day, Brent fell from the area of $88 per barrel to $86.20, but by the evening it returned to $88.00 per barrel.


North American WTI oil shows similar dynamics: the return of quotations to $ 83 per barrel after falling to $ 81.


Since the beginning of last week, oil prices have been declining, mainly due to the mitigation of the risks of direct conflict between Iran and Israel. At the moment, the main factor that will influence price dynamics is the decision that OPEC+ will make in June.


Some analysts predict a rapid increase in oil prices as the summer season approaches, when demand for fuel reaches a peak. Jeff Carney, head of energy markets strategy at the Carlyle Group, said that the probability of exceeding the price of $100 per barrel is extremely high.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.