Crude prices are recording rises with the beginning of the European trading session for the opening session of the week today, Monday the 13th of September), as Brent crude rises by about 0.74% and is trading at levels of 73.46 dollars a barrel, while the American NYMEX crude is trading at levels of 70.22 dollars a barrel, an increase of about 0.72%, amid anticipation in the markets For the expected revisions to the outlook for oil demand from the Organization of the Petroleum Exporting Countries on Monday and the International Energy Agency at a later time.
Some reports issued this morning, Monday, from sources within the Organization of the Petroleum Exporting Countries, stated that the organization will reduce its expectations for the growth of global demand for oil, coinciding with the continued rise in cases of Corona virus in the largest oil consuming countries in the world.
Crude continues to benefit from the suspension of production in the US Gulf of Mexico region and the suspension of about 1.4 million barrels per day since late August due to Hurricane Ida.
06/11/2024
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