Oil prices increase slightly
05.02.2024 12:30
Oil prices rose on Monday after last week's biggest drop since October, reported from Interfax.
The rise is facilitated by a new wave of concerns about the situation in the Middle East. Over the weekend, American and British troops, with the support of several allies, attacked Houthi positions in Yemen.
The price of April futures for Brent oil on the London ICE Futures exchange amounted to $77.71 per barrel, which is $0.38 (0.49%) higher than at the close of previous trading. On Friday, these contracts fell $1.37 (1.7%) to $77.33 per barrel.
WTI crude oil futures for March rose $0.29 (0.4%) to $72.57 per barrel in e-trading on the New York Mercantile Exchange (NYMEX). According to the results of previous trading, the cost of these contracts decreased by $1.54 (2.1%), to $72.28 per barrel.
Over the past week, Brent and WTI fell by 6.8% and by 7.4%, respectively, thanks to reports that Israel and Hamas are negotiating a truce. However, at the end of the week, information appeared in the media that Hamas did not agree to the terms of the ceasefire terms, which were discussed at the meeting in Paris.
"With the US avoiding direct strikes on Iran, we expect the Israeli-Hamas talks to have a greater impact on oil prices,” said Commonwealth Bank of Australia analyst Vivek Dhar. "This is likely to keep Brent below $80 a barrel. , given that traders see the risk of oversupply in the market."
www.anews.az
The rise is facilitated by a new wave of concerns about the situation in the Middle East. Over the weekend, American and British troops, with the support of several allies, attacked Houthi positions in Yemen.
The price of April futures for Brent oil on the London ICE Futures exchange amounted to $77.71 per barrel, which is $0.38 (0.49%) higher than at the close of previous trading. On Friday, these contracts fell $1.37 (1.7%) to $77.33 per barrel.
WTI crude oil futures for March rose $0.29 (0.4%) to $72.57 per barrel in e-trading on the New York Mercantile Exchange (NYMEX). According to the results of previous trading, the cost of these contracts decreased by $1.54 (2.1%), to $72.28 per barrel.
Over the past week, Brent and WTI fell by 6.8% and by 7.4%, respectively, thanks to reports that Israel and Hamas are negotiating a truce. However, at the end of the week, information appeared in the media that Hamas did not agree to the terms of the ceasefire terms, which were discussed at the meeting in Paris.
"With the US avoiding direct strikes on Iran, we expect the Israeli-Hamas talks to have a greater impact on oil prices,” said Commonwealth Bank of Australia analyst Vivek Dhar. "This is likely to keep Brent below $80 a barrel. , given that traders see the risk of oversupply in the market."
www.anews.az
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