Oil prices rise after a series of losses - financial experts predict further developments

Oil prices rise after a series of losses - financial experts predict further developments

After three consecutive days of losses, oil prices rose significantly on Thursday. A barrel of North Sea Brent for delivery in January last cost $86.43, an increase of $1.75 compared to Wednesday. The price for a barrel of the American West Texas Intermediate (WTI) variety also rose by $1.72 to $82.23.

Oil prices are benefiting from the friendly mood in the financial markets after the US Federal Reserve left interest rates unchanged on Wednesday. Investors are now speculating that interest rates could remain unchanged in December. This could mean that interest rates may already have peaked. However, Federal Reserve Chairman Jerome Powell has emphasized that further interest rate increases are possible to curb high inflation.

The prospect that the global economy will not be stalled by tight monetary policy in the US has also strengthened the demand outlook for crude oil. In addition, oil prices benefit from a weaker dollar, which makes crude oil cheaper for investors from other currency areas and supports demand for crude oil.

These developments have an impact on the market and consumers. Rising oil prices mean higher costs for companies, especially in the areas of transport, logistics and energy supply. These costs can be passed on to consumers, resulting in higher prices for gasoline, heating oil and other oil products. This can also have an impact on inflation. In addition, higher oil prices can be a drag on the economy as they can increase production costs and impact economic growth.

However, according to a report from www.finanzen.net, rising oil prices can also have positive effects. Crude oil exporting countries such as Saudi Arabia and Russia benefit from higher revenues from oil exports. This can strengthen their economy and encourage investment. Additionally, rising oil prices can increase the value of oil stocks and energy companies.

However, the long-term effects of rising oil prices should also be considered. The increased focus on renewable energy and efforts to reduce carbon emissions could reduce demand for oil in the future and reduce dependence on oil imports. This could lead to changes in the industry and market.

In summary, the increase in oil prices can have a positive impact on exporting countries and energy companies due to the friendly mood in the financial markets and the weaker dollar exchange rate. At the same time, higher oil prices can lead to higher costs for businesses and consumers and harm economic growth. It remains to be seen how oil prices will develop in the future and what long-term impact they will have on the market and the industry.

Source: According to a report by finanzen.net, link