Analytical Reviews

Bekommen Sie die neuesten wirtschaftlichen Nachrichten von ForexMart, einschließlich Updates aus Finanzmarkt, Zentralbankpolitiksankündigungen, finanzielle Indikatoren und andere relevante Nachrichten, die die Branche beeinflussen können.

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 getting more expensive despite a sharp increase in reserves in the United States


October, 03 2024
watermark Economic news

Oil prices continue to rise after yesterday's sharp collapse to the level of $73.65 per barrel. The current Brent quote is $75.60. The prices are supported by fears of possible risks to supplies due to tensions in the Middle East. It is expected that Israel may retaliate against Iran after the rocket attack.


The oil market is focused on the escalation of the Middle East crisis, as the region provides about a third of the world's oil supplies. Market participants fear that possible strikes on energy infrastructure or blocking routes could disrupt supplies. 


Citigroup Inc. estimates that if Israel strikes Iran's export facilities, the global market could lose up to 1.5 million barrels of oil per day. If the attack affects less significant facilities, for example, processing plants, losses can range from 300,000 to 450,000 barrels. Against this background, OPEC+ confirmed its intentions to increase oil production in December, restoring suspended capacities.


Meanwhile, data from the United States showed an unexpected increase in oil reserves – by 3.9 million barrels last week, which was the largest increase in the last five months. This factor, together with the statements of OPEC+, restrains a sharper price increase.


hinterlassen

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 is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.