Oil Price Spike Over $90/91 Before Falling Back To $88/89 Earlier Today
9 Articles
9 Articles
According to Reuters, although prices initially jumped to their highest levels in the past month, liquidations then prevailed as the market assessed the latest developments in the Middle East.
The price of Brent's North Sea barrel, for delivery in September, won 2.01% up to $91.01.
The price of Brent's barrel for delivery in September closed this Tuesday at $91.01 in the London futures market, 2.01 % more than at the end of the previous session, driven by renewed confrontations between the United States and Iran in the Middle East. The crude oil of the North Sea, of reference in Europe, won 1.79 dollars compared to the last negotiation in the Intercontinental Exchange (ICE) London, when it ended at 89.22 dollars. (Continue…
Thus, although the cost of Brent oil is lower this Tuesday by 0.92% compared to yesterday's closure and more than 3% compared to the 91.43 dollars that it reached this Monday, up to 88.40 dollars, it still pays 4% above the price of a week ago.
On Sunday, Brent's crude prices rose again to about $91 per barrel, with continued tensions between the United States and Iran and heightened concerns about the security of oil supplies.
While Iran claims to be in total war against the United States and drones rain on the Gulf countries with each Iranian response, the barrel of oil is briefly returned over the $90 before dropping to the 88. It's just a matter of time for prices to go back to [...]
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