Crude prices are recording stability with some slight rises in the middle of trading today, Monday, November 22, the opening session of the week and before the opening of the American markets, as Brent crude rises by 0.11% and is trading at a level of $78.98 a barrel, while the American crude (NYMEX) is trading at levels of $76.00 a barrel, up by about 0.09% with rising market concerns about supply and demand for crude in the coming period.
The United States of America continues to put pressure on crude prices through fears of an increase in oil supply through discussions with the largest oil consuming economies in the world to release its oil reserves from SPR strategic stocks to curb the rise in inflation.
The Japanese news agency reported over the weekend that Japan is considering releasing oil from its reserves for the first time to face the rise in oil prices after a request from its partner, the United States of America.
In a related context, market concerns about weak demand for crude are rising in light of the return of the spread of the Corona virus, which forced some European countries to restore restrictions and some to enact new restrictions, such as Austria, which imposed a closure that includes all residents who will be required to meet the vaccine, as the first European country to take this measure, while Germany announced There are also new restrictions, the Netherlands, and on the way many European countries, which prompted citizens to demonstrate in protest against these restrictions.
05/11/2024
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