Stock market analytics, financial 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.

Brent rose to $86 per barrel


March, 25 2024
watermark Economic news

Oil prices began to rise sharply on Monday amid heightened geopolitical tensions and worries about possible supply disruptions on the global market.


The current price of Brent oil is $86.20 per barrel. In the morning, the price fluctuated slightly in the area of $85.20. North American WTI crude also rose, trading near $82.10 per barrel. 


The market was supported by the next attacks in the Red Sea. On Saturday, March 23, the Yemeni Houthis fired four anti-ship ballistic missiles in the direction of the Huang Pu oil tanker belonging to China, which was moving through the Red Sea under the Panamanian flag.


Restrictions on oil production by OPEC+ countries and attacks by Ukrainian drones on Russian refineries have also become a driver of price growth. According to a number of experts, these events have led to a reduction in oil refining volumes in Russia by more than 10%.


Data from the oilfield services company Baker Hughes indicates a decrease in the number of operating oil drilling rigs in the United States by one over the past week, reaching 509 units. The number of gas installations also decreased by four, to 112.


Feedback

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.