Thursday , July 7 2022

Commodities and Foreign Exchange – The price of oil ends – Economy


The collapse of the oil market may stop. Major crude oil prices rise. There are also small gains in Europe and Britain after the Brexit agreement last weekend.

Oil prices slowed down in recent trading days. On Monday they started a recovery. The North Coast of the North Sea (159 liters) cost $ 60.90 in the afternoon. It was 1.68 dollars on Friday. The prices of US crude oil prices in West Texas (WTI) were 3.3% and $ 52.10. On Friday afternoon, oil prices have declined. Since the beginning of October, prices have fallen by around 30%. Market observers still had a very high supply and reckoned at the beginning of the week with a move against the oil market. The latest price decline is Saudi Arabian oil production. The US president, Donald Trump, has repeatedly called for oil production in the Gulf of America to increase productivity in country production, compared to comparative prices of Saudi oil production at record level. At the beginning of December, Opec countries discussed more development policies.

The euro did not move much. In the afternoon, the common currency was marketed $ 1,1348, 0.1% respectively. According to market observers, the euro is committed to a more advanced exit to the EU. On Sunday, 27 other EU countries accepted the UK Brexit Agreement. However, the British Parliament must also agree on the agreement, which is a difficult obstacle to regulating Brexit. British currencies rose slightly on Monday. The loan was $ 1,2818 this afternoon. It was 0.1% higher than Friday.

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