The rising trend of oil prices in the world market

According to Webangah News quoted by Mehr News Agency, according to the Reuters news agency, the price of oil witnessed an upward trend in today’s trading of the energy market.

Accordingly, North Sea Brent oil increased by 48 cents to $83 and 10 Cents per barrel were traded. The price of West Texas Intermediate oil also increased by 42 cents to 80 dollars and 55 cents. reached in each barrel.

Now the market is hoping for a reduction in interest rates in America in September true and this It has contributed to the upward trend in the price of black gold in the energy market.

Decreasing the interest rate reduces the cost of borrowing and causes economic prosperity. The Federal Reserve (Central Bank of America) was forced to increase the interest rate to curb the high inflation rate, but now analysts hope that the Federal Reserve will once again resume the process of lowering the interest rate with the decrease in the inflation rate.

Federal Reserve is supposed to decision about interest rate reduction at the July 30 meeting.