2023-12-15 12:00:00
Written by – Marwa Al-Ghoul Friday, December 15, 2023 02:00 PM It rose Oil pricesToday, Friday, by 3% at settlement, continuing its gains from the last session, supported by the decline of the dollar and the rise International Energy AgencyIts forecast for oil demand next year.
Brent crude futures rose $2.35, or 3.2%, to $76.61 per barrel upon settlement, and US West Texas Intermediate crude rose $2.11, or 3%, to $71.58.
Oil markets achieved positive results following falling to their lowest levels in nearly six months during yesterday’s session, according to the Oman News Agency.
The dollar fell to its lowest level in four months following the latest economic forecasts of the Federal Reserve (US central bank) indicated that the cycle of raising interest rates has ended and lowering borrowing costs will occur in 2024.
The International Energy Agency said in a monthly report today: Global oil consumption will rise by 1.1 million barrels per day in 2024, an increase of 130,000 barrels per day from its previous forecast, indicating improved expectations for the United States and lower oil prices.
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