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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 prices returned to two-month highs

May, 04 2021
watermark Economic news

On Tuesday, oil prices started to rise steadily, climbing to $69 a barrel, the high of early March. 


Market participants are trying not to get hung up on the worsening epidemiological situation in India, but prefer to focus on the prospects for a recovery in global economic activity as quarantine restrictions are lifted.


Brent is also supported by the position of the OPEC + alliance, whose members continue to gradually increase the volume of oil production. The Iraqi oil minister said yesterday that the organization will try to keep oil prices within normal averages and not worry about falling prices.


Also, the focus of market participants remains the negotiations between the United States and Iran on a nuclear deal. If sanctions against Iran are lifted, it will allow Iranian manufacturers to return to the world market.


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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.