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Commodity: Rising oil prices

01/09/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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Because of concerns about supply disruptions linked to the intensification of strikes flights between Russia and Ukraine, as well as the weakness of the dollar, the Oil prices rose by more than 1% on Monday.

Brent gained 80 cents, or 1.2%, at 68.28 dollars per barrel at 13:35 GMT. West Texas Intermediate American Crude has also increased by 80 cents, or 1.3%, to $64.81. Exchanges should be moderate due to a holiday in the United States. Brent and WTI recorded their first monthly decline in four months in August, losing 6% or more due to the increase in the offer of the group of OPEC+ producers.

According to Ole Hansen, head of strategy for commodities at Saxo Bank, “oil fell in August and Started September with no clear direction in the ranges established, as fears of a glut in supply in the fourth quarter are offset by geopolitical tensions.”

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