The world price of oil today, 21 December; Brent was 77 dollars and 27 cents
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Brent oil increased by 5.9% and American oil by 6.9% in the three weeks ending January 10 have had.
Analysts of investment bank JP Morgan this price increase is related to rising concerns Regarding the disruption of supply due to the tightening of sanctions, the low level of reserves and severe cold in many parts of America and Europe, as well as the positive result of China’s fiscal stimulus.
The National Weather Service expects the central and eastern parts of the country to experience below-average temperatures. Many regions of Europe have faced extreme cold and started the new year with lower temperatures than usual. Therefore, the demand for fuel increases.
JP Morgan said in a note on Friday that global demand for oil is expected to reach 1.6 million barrels per day in increase in the first quarter of 2025, which is the result of increasing demand for heating fuel.
The price of oil has increased despite the rise of the dollar index for 6 consecutive weeks. The high value of the dollar usually affects the price of oil and makes its purchase more expensive for holders of other world currencies.
Oil supplies will be tighter as US President Joe Biden is likely to impose new sanctions on the Russian economy that will further Its purpose is the oil industry of this country.
