oil prices remain volatile.
In the past six months, Barrel prices have risen and fallen dramatically, surpassing the triple digits since the end of Februarywhen the war between Russia and Ukraine began, since the nation led by Vladimir Putin It is one of the world’s largest oil producers, and the blockade of Moscow has led to supply problems and an increase in prices.
being sunday, However, the markets remained closed, and according to the latest settlement on Friday, July 1st, the price of Crude Oil recorded a gain of more than 2%.to recover most of the falls from the previous day’s session, Thursday, June 30.
In addition to the war between Russia and Ukraine, The volatility of crude oil is also the result of sharp interest rate increases by the United States Federal Reserve (Fed). and other global banks.
The big increase in interest rates comes like this In response to high rates of inflation While these increases may stabilize prices, Fears of a global economic recession are growing.
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Prices of a barrel of Brent and Texas oil today, July 3: How much does it cost and how much does it cost?
As of last closing Friday, July 1st, Oil price chartsa site with more than 150 indices and blends of crude oil from around the world, The price of a barrel of Brent crude oil closed at 111.63 dollars, while the price of a barrel of West Texas Intermediate (WTI) crude closed at 108.43 dollars a barrel.
According to experts on the topic, Crude oil prices are expected to remain in triple digits until the end of the year.
“I don’t think we will see sustained downward pressure on Oil. I think what we’ve been seeing in the last couple of weeks in the oil market is this intense selling. (…) It is a question of willingness to take risks“, said Matt Smith, President sweet raw analysis From Kepler for Yahoo Finance.