The world price of oil today, October 18; 4% price reduction
reportedBrent North Sea oil increased by 8 cents, equivalent to 0.10%, to 77 dollars and 26 cents. Texas Intermediate oil West also increased by one cent equal to 0.01% to $73 and 58 cents are traded.
Analysts believe that oil prices are largely influenced by headlines. Today, the news of a possible ceasefire lowers the price of oil and the fear of escalation of conflicts in the region raises it.
The price of oil Brent on Monday increased by more than 3% daily price and for the first time since the monthAugust rose to more than $80 per barrel. Brent price increased by 8 percent last week, which was the highest weekly price increase in the past year. The main reason for this increase in price was the concern about the spread of war in the Middle East.
The Minister of Defense of the Zionist regime has announced that he has removed Seyed Hassan Nasrallah’s successor. On Tuesday, the military forces of this regime warned people to stay away from certain buildings in southern Lebanon.
The trend of increasing oil prices started after Iran’s missile attack on the occupied territories on October 1. The Zionist regime has promised to retaliate against this Iranian attack.
On the other hand, Hurricane Milton is on its way to Florida and has caused the closure of some oil and gas platforms in the Gulf of Mexico.
The report of the American Petroleum Institute shows that the country’s crude oil reserves have decreased by about 11 million barrels over the past week. American gasoline reserves have decreased by 557,000 barrels and the country’s gas condensate reserves by 2.6 million barrels.
