The jump in the price of oil in the world market

The price of oil in the world market started to rise once again after the reduction of supply by Russia.

According to the Reuters news agency, the price of oil in today’s trading (Monday) of the global energy market witnessed a jump of more than one and a half percent.

Accordingly, the price of Brent North Sea oil increased by one dollar and 32 cents, reaching 86 dollars and 75 cents per barrel. US West Texas Intermediate (WTI) oil was traded at $81 and 95 cents per barrel with the same increase.

Since the beginning of this year, both main oil indices have witnessed an upward trend, so that in 2024, Brent oil will grow by nearly 11% and West Texas Intermediate oil by nearly 12.5% ​​compared to last year. are

Market analysts say that the expectation for the reduction of bank interest rates by the world’s major economies in the coming summer, as well as the continuation of geopolitical tensions in Eastern Europe and the West Asia, were among the main reasons for the upward trend in the price of black gold in the energy market.

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