The jump in oil prices in the world market – Mehr News agency RCO News Agency
According to Mehr news agency, citing Reuters news agency, the expectations for the interest rate reduction by the Federal Reserve (Central Bank of America) caused the price of oil to jump in the world market transactions.
Based on this, the price of black gold in energy market transactions witnessed a jump of one and a half percent.
oil Brent The North Sea increased by one dollar and 17 cents to $77 and 22 cents per barrel. oil price West Texas intermediate America also increased by 1 dollar and 8 cents, reaching 73 dollars and 1 cent per barrel.
The jump comes after Federal Reserve officials expect US interest rates to be cut at next month’s meeting.
The Federal Reserve had previously raised interest rates to control inflation in the United States. A high interest rate by increasing the cost of borrowing reduces economic activities and reduces the demand for oil.
Now, analysts hope that with the reduction of interest rates, the United States, as the world’s largest economy, will once again witness economic prosperity and an increase in demand for oil.
RCO NEWS
RCO