The rate of oil is fueled by tensions in the middle East

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The tense situation in the middle East has a positive impact on pricing policies of oil. Recall that recently attacked oil tankers, and now the Iranian side was hit by a military aircraft of the United States, than have incurred the wrath. Air and naval forces of the United States was ready to strike back, but at the last moment orders were not given.
However, speculators did not stop – they raised the price by 4%. Now the futures on Brent crude oil are $65,00 per barrel, while futures for oil shale crude oil WTI rose to $57,80.
Amid growing tensions between the US and Iran, oil prices will be positive. Now they were able to reach the highest level in a month. Major market participants are awaiting the OPEC meeting, but first it is important to the outcome of the G20 summit. In any case, the price of black gold will rise, no question about it. The question is, how long it will last.
Given the difficult situation and uncertainty in the settlement of the trade conflict between the US and China, it is difficult to say at what rate will continue to increase prices. However, in the medium term it is likely the price of $68 per barrel.
Major market participants is gradually gaining positions. Before the end of the day crude oil futures could rise to $65,82 per barrel for Brent and us crude could reach $57,92 per barrel.
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Gaidar Hasanov
Expert
“International financial center”