The price of December futures for Brent crude rose by 0.72% to $83.46 per barrel, and November futures for WTI grew by 0.68% to $77.23.
On September 26, oil prices fell noticeably - Brent fell by 4%, from about $86, and WTI fell by 3.6%, from $79.5. At the same time, the price of Brent fell below $83 for the first time since January 11. The decline in quotes was due to fears about a recession in the world and the subsequent volatility of the markets, experts noted.
Markets also paid attention to the statement of Iraqi Oil Minister Ihsan Abdul Jabbar. In a televised interview, he said that the OPEC+ countries are monitoring the situation around oil prices, seeking to maintain a balance in the markets, and do not want a sharp increase or fall in quotations, Reuters reports.
The US dollar exchange rate also supports the rise in oil prices. Thus, the dollar index (the exchange rate against a basket of currencies of six countries - US trading partners) decreased by 0.37%, to 113.68 points. A cheaper dollar makes commodities, including oil, more available to buy in another currency.
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