The price of oil went up
reported by Mehr Reporter quoted by Reuters, the price of oil has increased following the increase of concern about the disruption of Middle East oil supply. The price of a barrel of Brent North Sea oil increased by 51 cents, equivalent to 0.71%, to 72 dollars and 49 cents. Texas Intermediate oil West also increased by 38 cents, equivalent to 0.56%, to $68 and 56 cents are traded.
Last week, Brent oil dropped about 3% and US oil about 5% of its value due to concerns about Demand lost. China’s economic stimulus, as the world’s second largest economy and the world’s largest oil importer, could not restore confidence in the market in this country.
According to analysts, the escalation of attacks in the Middle East has increased Iran’s direct conflict and raised concerns about the supply of this major OPEC producer.
The Secretary of Defense of the United States has allowed his military forces to be present in the Middle East. The Pentagon announced on Sunday that if Iran and its supporters target Israeli forces and interests, Washington will take whatever action is necessary to defend its people.
On the other hand, the markets are waiting for the news Jerome Federal Reserve Chairman about the pace of easing the monetary policies of the central bank this year. are the country Pavel is going to give a speech this week.
The plan of OPEC and its allies in the OPEC Plus coalition to increase oil production by 180,000 barrels in December, as well as the increase in Libyan oil exports, has put pressure on oil prices.
