Increase in the price of oil in the world market
According to Webangah News quoted by Mehr news agency quoted by Reuters news agency, the price of oil increased in the energy market trading today (Wednesday).
Accordingly, North Sea Brent oil increased by 11 cents to $82 and 4 Cents per barrel were traded. The price of Texas WestIntermediate oil also increased by 18 cents to 78 dollars and 10 cents. reached in each barrel.
The increase in oil prices occurs while the market is affected by the new estimates of the US Energy Agency on the increase in demand for black gold this year. According to the announcement of this institution, the demand for crude oil in 2024 will witness a growth of one million and one hundred thousand barrels per day, which is more than Prediction is 900 thousand barrels.
The OPEC organization also says that hopes for the boom in tourism and increased travel in the second half of 2024 can affect the amount of oil demand in the market.
However, the Federal Reserve does not intend to cut interest rates. A decrease in interest rates can reduce the cost of borrowing and help businesses thrive. Nevertheless, the concern of not controlling inflation is the main reason for keeping the interest rate.
