empty
06.10.2020 10:53 AM
Oil's current growth does not guarantee positive future prospects

This image is no longer relevant

The prices for crude oil benchmark brands jumped at a record pace on Monday which has not happened in the past four months. On Tuesday, the growth continues amid the news about the imminent adoption of the new stimulus package in the US. Note that this issue has been pressed for several months.

The price of futures contracts for Brent crude oil for delivery in December on the trading floor in London rose 0.51% or $0.21, which moved it to the level of $41.5 per barrel and fixed it above the strategically important mark of $40 per barrel. Thus, market participants have hope for long-term and steady growth. Monday's trading ended with an increase of 5.1% or $2.02, leaving the final price at $41.29 per barrel.

The price of futures contracts for WTI light crude oil for November delivery on the electronic trading platform in New York also went up by 0.46% or $0.18, which moved it to the level of $39.4 per barrel. Monday's trading also soared 5.9% or $2.17, leaving the price at $39.22 per barrel at the closing of trading.

The positive dynamics of the oil market began to manifest after another round of negotiations on the stimulus package in the US. Despite the fact that there is no clear progress towards an agreement, investors are increasingly convinced that a positive outcome of the negotiation process is simply inevitable. US President Donald Trump calls on the parties to quickly find a consensus and get rid of disagreements since such support measures are now very necessary for the state.

Meanwhile, the latest report on Trump's health condition state that he was discharged from the military hospital where he was placed immediately after testing positive for COVID-19. According to Trump's physicians, there are no threats to his condition, so he will continue treatment outside the White house.

Nevertheless, the situation in the oil market is far from ideal: the tension brought by problems does not simply go away. The main and very influential factor that puts pressure on oil continues to worsen. New outbreaks of coronavirus infections in the US and across the globe are continually recorded. In this regard, there are two scenarios for the development of events. The first is implemented in case of rapid growth in the cases out taking the scenario during the first wave. In this situation, authorities will have no choice but to introduce strict quarantine measures that will negatively affect the economies of countries that have not yet recovered from the spring shocks. The second scenario is possible only if the massive outbreaks can be contained. Then the quarantine measures will not be implemented in full, but only partly, and will not be so strict which will be easier for the economy to tolerate. Practically no one doubts the need to introduce restrictive measures.

Of course, the oil market will suffer greatly in both cases. The difference will only be in the level of cost that the quarantine measures will lead to. And it is definitely becoming clear that the forecasts regarding the recovery of demand for black gold by the end of the year will not be justified.

Maria Shablon,
Experto analítico de InstaForex
© 2007-2025
Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Trump sacude los mercados: el dólar, el euro y el yen en el epicentro de una nueva tormenta arancelaria

Ayer se supo que, a partir de la próxima semana, el presidente de Estados Unidos, Donald Trump, impondrá aranceles del 25% a la importación de automóviles. Esta noticia provocó turbulencias

Аlena Ivannitskaya 07:28 2025-03-27 UTC+2

Resumen de noticias del mercado de EE. UU. 26.03

Los principales bancos no tienen una opinión unificada sobre el S&P 500: el mercado está en zona de incertidumbre. El S&P 500 se ha consolidado por encima de un nivel

Irina Maksimova 10:32 2025-03-26 UTC+2

Cuando los mercados están agitados: el gas sube, el petróleo duda

La sesión de negociación en EE. UU. del martes trajo noticias interesantes para los participantes del mercado: los futuros de gas natural subieron repentinamente, mientras que el petróleo decidió tomarse

Natalia Andreeva 11:14 2025-03-19 UTC+2

El oro bate récords: $3.000 no es el límite

El metal amarillo comenzó la nueva semana con un tono positivo y hasta ahora mantiene ese ritmo. En este momento, el oro se cotiza ligeramente por encima del nivel redondo

Larisa Kolesnikova 07:30 2025-03-19 UTC+2

Mercados en pánico: Nasdaq se desploma un 1,71%, mientras el oro alcanza máximos históricos

Nvidia cae en medio del inicio de la conferencia anual de desarrolladores de software Tesla se desploma después de que RBC redujera su precio objetivo El oro alcanza un máximo

06:58 2025-03-19 UTC+2

¿Volverá el Bitcoin a los $90.000? Las esperanzas «alcistas» de la primera criptomoneda

El Bitcoin lucha actualmente por un lugar bajo el sol, defendiendo su estatus de primera criptomoneda. Actualmente, el activo estrella no pasa por su mejor momento, aunque muchos expertos

Larisa Kolesnikova 13:06 2025-03-10 UTC+2

Señales inquietantes: la mayor caída de precios en China y el Bitcoin se hundió hasta los $80 mil

Los futuros de Wall Street caen después de que Trump se negara a descartar riesgos de recesión Los precios de consumo chinos caen a un ritmo más rápido

07:29 2025-03-10 UTC+2

Estancamiento o crisis: Tesla cae, Nikkei marca un récord negativo, Dow y Nasdaq pierden posiciones

Tesla cae tras una opinión bajista de un bróker, según un informe. Kroger sube gracias a un optimista pronóstico anual de ventas. El índice japonés Nikkei cayó a su mínimo

11:36 2025-03-07 UTC+2

Trump vuelve a impulsar el crecimiento del BTC

El vertiginoso repunte de Bitcoin a principios de esta semana se debe a las declaraciones del presidente de EE. UU., Donald Trump, sobre la creación de una reserva de criptomonedas

Larisa Kolesnikova 07:32 2025-03-04 UTC+2

Bitcoin sin apuros: ¿Récords por delante?

Según observaciones de los analistas, actualmente Bitcoin se encuentra en un estado relativamente estable, pero no se apresura a actualizar sus máximos. En este contexto, los participantes del mercado muestran

Larisa Kolesnikova 08:36 2025-02-24 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.