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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Oil is recovering despite the strengthening of the dollar

November, 14 2024
watermark Economic news

Oil markets showed moderate growth on Thursday, continuing the recovery trend that began the day before after reaching the lows of the end of October. 


Brent crude oil prices rose to $73.20 per barrel, and WTI futures added 0.56%, settling at $69.38.


The strengthening of the dollar and concerns about an increase in oil supply have been putting pressure on prices in recent weeks. Experts also note that the dollar exchange rate has become a key factor determining the movement of oil prices in the foreseeable future.


At the same time, rising inflation and rising yields on U.S. government bonds are heightening concerns about slowing oil demand.


The International Energy Agency has warned of a possible surplus of oil on the market next year, which could put pressure on prices.


In general, oil markets are in a state of uncertainty, and future price fluctuations will depend on the complex interaction of various factors, including economic activity, supply and demand.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.