Register
Demo
Contacts
 

Market updates and forecasts

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 rose again on news from the Middle East

October, 13 2023
watermark Economic news

Oil rose significantly on Friday amid news from the Middle East, reaching $89.90 per barrel. 


The daily maximum of Brent crude oil reached the level of $89.94 per barrel. North American WTI crude oil rose to $86.83 per barrel. 


The growth driver was the publication of the Israel Defense Forces in the social network X (formerly Twitter) that citizens of the northern part of Gaza should move to the south of the enclave for their own safety. According to the UN, the Israeli side demands the relocation of approximately 1.1 million Palestinians to the southern part of Gaza in the next 24 hours.


At the same time, analysts doubt the implementation of such a mass resettlement and assume a possible invasion of Israeli troops in Gaza.


Meanwhile, the International Energy Agency (IEA) has adjusted its forecast for global oil demand for 2023. Now it is expected that demand will increase by 2.254 million barrels per day, and not by 2.243 million b/d, as previously stated. OPEC, in turn, forecasts an increase in oil demand to 2.44 million b/d in 2023 and 2.25 million b/d in 2024.


World-Class Trading Platform

Professional Customer Support

Best Execution

Logo

QUICK LINKS

+ 442 030 976 697
Contact Us
Feedback
twitter

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
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.