Post by account_disabled on Jan 8, 2024 22:13:59 GMT -8
Resulting in the market Investment has become active again. Especially the world stock market and oil prices have clearly increased following the news. As for gold prices, they dropped. After being speculated to reach the highest level in 5 years, WTI oil prices are considered one of the assets to keep an eye on this year. Since the beginning of 2019, the price trend has been quite volatile. For the first three months, WTI oil prices were bullish, reaching yearly highs of $66 per barrel.
before being sold off in the second Phone Number List quarter to the level of $50 per barrel due to the trade war issue. Until recently, the price recovered to a level close to $60 per barrel. After news of relations between the United States and Iran becoming more tense. In addition, OPEC countries have jointly resolved in a meeting to extend the oil production cut for an additional 6-9 months in order to maintain the level of oil prices at a high level. It is expected to have a positive effect on oil prices in the short to medium term.
However, the trend of oil prices from now on will still be volatile. Because the fundamentals do not help support the price of oil in any way. For the factors that cause oil prices to not return to a full upward trend. The first factor is that the global economy as a whole has not yet grown much. Moreover, the issues of trade war and technology have not yet ended. The second factor in the G20 meeting is the talks between the United States and China. It is still only the first step in negotiations.
before being sold off in the second Phone Number List quarter to the level of $50 per barrel due to the trade war issue. Until recently, the price recovered to a level close to $60 per barrel. After news of relations between the United States and Iran becoming more tense. In addition, OPEC countries have jointly resolved in a meeting to extend the oil production cut for an additional 6-9 months in order to maintain the level of oil prices at a high level. It is expected to have a positive effect on oil prices in the short to medium term.
However, the trend of oil prices from now on will still be volatile. Because the fundamentals do not help support the price of oil in any way. For the factors that cause oil prices to not return to a full upward trend. The first factor is that the global economy as a whole has not yet grown much. Moreover, the issues of trade war and technology have not yet ended. The second factor in the G20 meeting is the talks between the United States and China. It is still only the first step in negotiations.