Oil price increased/Brent 74 dollars and 51 cents
reported by %20%0A
The price of a barrel of Brent North Sea oil today increased by 26 cents, equivalent to 0.35%, to 74 dollars and 51 The tradition arrived. Texas Intermediate oil West also increased to $70 with 29 cents equivalent to 0.41% and 87 cents are traded.
The prospect of weak demand for oil and the report of the Zionist regime’s reluctance to target Iran’s nuclear and oil facilities caused the price of oil to drop by more than 4% on Tuesday and reach the lowest level in last two weeks.
But the concern about the escalation of the war between the Zionist regime and Lebanon’s Hezbollah continues. The United States announced on Tuesday that it was against the regime’s airstrikes on Beirut in the past few weeks.
In China, there is still a lack of clarity about its fiscal policies, which has created uncertainties about the impact of economic stimulus on the outlook for oil demand.
Both OPEC and the International International Energy Agency this week released their forecasts of global oil demand growth in 2024. and China has been responsible for most of this decrease.
Currently, the market is waiting for the latest information on US oil reserves, which is scheduled to be released today.
Analysts expect US crude oil inventories to have increased by about 1.8 million barrels in the week ending October 11.
