Brent's price near a 3-month high
Oil prices have risen for the fifth week in a row. During this time, they reached three-month highs. The reduction in oil supplies around the world, as well as the expectation of an end to interest rate hikes in the United States, is pushing the price of black gold upward. In addition, Saudi Arabia is expected to extend its voluntary production cut of 1 million barrels per day for another month, including September. Excess demand over supply is supporting Brent prices.
Disclaimer: The information in this article is not intended to be and does not constitute investment advice or any other form of advice or recommendation of any sort offered or endorsed by Libertex. Past performance does not guarantee future results.
Why trade with Libertex?
- Get access to a free demo account free of charge.
- Enjoy technical support from an operator 5 days a week, from 9 a.m. to 9 p.m. (Central European Standard Time).
- Use a multiplier of up to 1:30 (for retail clients).
- Operate on a platform for any device: Libertex and MetaTrader.