Price movements
By the hour 14:44 GMT, landed Crude futures contracts Brent 1.83 Dollar equivalent 2.48 percent to 72.04 $ per barrel, while West Texas Intermediate crude futures fell 1.91 Dollar or 2.71 percent to 68.47 $ per barrel.
The two benchmarks fell by more than two percent last Friday.
The dollar index, which measures the performance of the US currency against a basket of six other major currencies, slightly exceeded the high levels it recorded immediately after the results of the US presidential elections, while the markets are still awaiting any indicators regarding US policy in the future.
The rise in the US currency makes it possible to hold commodities Primary The denominator is like Oil More expensive for holders of other currencies, also affects prices.
Data released on Saturday indicated that consumer prices in… China They rose at the slowest pace in four months in October, while producer prices contracted further, as Beijing strengthened stimulus plans for its faltering economy.
Oil prices also fell after concerns about supply disruptions due to Storm Rafael in the Gulf of Mexico eased US.
Looking to the future, there are concerns that oil and gas production in the United States may rise under the new administration led by… TrumpAlthough analysts rule out that there will be a change in production expectations for the year 2025.
“We believe producers may think twice before significantly increasing U.S. production at a time when… OPEC+ “We have already made plans to gradually raise production targets during 2025.”
US President-elect Donald Trump’s pledge to lift customs duties on imports to boost the US economy has cast a shadow over global economic forecasts, despite expectations of the possibility of tightening sanctions on… Iran and Venezuela, members of OPECReducing oil supplies to global markets partly caused prices to rise by more than 1 percent last week.
