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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 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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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.