At morning trading on Friday, the price of oil reached its peak value since October 2018, rising to $77.73 per barrel. The oil market has been showing a rise for the fourth day in a row. Prices are supported by the growing demand for fuel, data published earlier this week on the reduction of oil reserves in the United States, as well as the weakening of the dollar. According to the Ministry of Energy, raw materials stocks in the United States decreased by almost 3.5 million, which was better than analysts' expectations. The situation with the recovery of production in the Gulf of Mexico after Hurricane Ida also affects the dynamics of trading. At the moment, about 16% of the oil production capacities in the region have not been restored. An additional factor in the price increase is the shortage of natural gas supplies, in particular in Europe, which may affect the energy complex as a whole in the winter period. And this may lead to the fact that the price of Brent will rise to the level of $90 per barrel.
QUICK LINKS
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.
Contactez-nous 
