The global price of oil today, November 22; Brent was 71 dollars and 77 cents
reported by %20%0A
The price of a barrel of Brent North Sea oil today decreased by 6 cents, equivalent to 0.08%, to 71 dollars and 77 dollars. The tradition arrived. The oil West Texas Intermediate also decreased by 5 cents equal to 0.07% to 67 dollars and 99 cents is traded.
Both of these oil indices decreased by more than 5% in the last two days. China unveiled a 10 trillion yuan ($1.40 trillion) plan on Friday to address the government’s fiscal woes, but analysts say the figure is meant to boost growth. Economy is not enough.
The next factor influencing oil prices is the monthly report of the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to be published today. The market expects OPEC to reduce its forecast of demand in 2025, which will further affect prices.
The dollar index rose on Monday, making the purchase of oil more expensive for holders of other world currencies. Markets are waiting for US inflation data and Federal Reserve officials’ statements this week.
