The price of oil went up again; Brent 75 dollars and 76 cents

reported Mehr Reporter On Thursday, November 3, Brent oil trading increased by 1.07% and reached 75 dollars and 76 cents per barrel, while the previous day’s trading decreased by 1.42% (one dollar and 8 cents) was closed at the price of 74 dollars and 96 cents.

Chart of Brent crude oil weekly price changes

Oil prices, on the other hand, have been pressured by a larger-than-expected increase in US inventories, with the EIA reporting an increase of 5.5 million barrels, well above the previous increase. It is expected to be 0.7 million barrels. Additionally, the dollar index hit its highest level since late July on Wednesday, further dampening demand for dollar-denominated oil.

Graph of weekly changes in WTI crude oil price

Weekly fluctuations in the price of WTI crude oil occur in the support range of $70 while US West Texas Intermediate (WTI) crude oil trades on Thursday rose 1.07% to $71.56 cents. Each barrel arrived.

It should be said that yesterday’s trading of WTI crude oil was closed with a drop of 1.35% (97 cents) at the price of 70 dollars and 77 cents.