The world price of oil is 5 days; Brent rose
reported by %20%0A
The price of a barrel of Brent North Sea oil today increased by 95 cents, equivalent to 1.31%, to 73 dollars and 58 dollars. The tradition arrived. Texas Intermediate oil West also increased by 86 cents, equivalent to 1.24%, to $70 and 10 cents is traded.
Analysts believe that the price of oil indices will remain in the same range in the short term. Market activity slowed during the New Year holidays and market participants are waiting to get a clearer view of the global oil balance in 2024 and 2025.
Some analysts have also pointed to signs of rising demand for oil in the next few months.
Statistics of the American Petroleum Institute show that crude oil and gas condensate reserves in this country decreased by 3.2 and 2.5 million barrels respectively last week. Gasoline reserves in America have increased by 3.9 million barrels.
Also, China’s decision as the world’s largest oil importer to issue 3 trillion yuan equivalent to 411 billion dollars of special bonds next year has supported oil prices. Beijing increases financial incentives to revive the economy.
Markets are also looking at the U.S. economy as the world’s largest oil consumer, which has complicated information.
While consumer confidence weakened in December, new orders for domestically-made goods rose in November amid strong demand for machinery. The sale of new houses has also increased, which indicates the positive conditions of the American economy at the end of this year.
