London: Oil prices rose on Tuesday, helped by expectations of new Chinese economic recovery measures and the renewed tensions in the Middle East, two days before the OPEC+ meeting. Around 10:00 GMT (11:00 CET), the price of a barrel of Brent BRENT Brent, or North Sea crude, is a variation of crude oil serving as a benchmark in Europe, listed on the InterContinentalExchange (ICE), a stock exchange specializing in energy trading. It became the first international standard for setting oil prices. from the North Sea, for delivery in February, takes 1,11% has 72,63 dollars.
Its American equivalent, the barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variation of crude oil that serves as a standard in setting the price of crude and as a raw material for oil futures contracts with the Nymex (New York Mercantile Exchange). ), the stock exchange specializing in energy.), for delivery in January, wins 1,19%has 68,91 dollars.
???????? New recovery measures “could be unveiled at the China Central Economic Work Conference next Wednesday“, explains Ole Hvalbye, analyst at SEB.
The day before the publication of the Caixin PMI index showed that activity was expanding in the Chinese manufacturing sector in November, “signaling a recovery in the world's major oil importer following a series of stimulus measures introduced at the end of September“, explains John Plassard de Mirabaud.
Moreover, “geopolitical tensions in the Middle East continue to inject a risk premium into oil prices“, specifies the analyst.
???????? Nine people were killed in Israeli strikes on villages in southern Lebanon on Monday, after Israel announced it was striking dozens of Hezbollah targets in retaliation for an attack claimed for the first time since the entry into force of the ceasefire.
???????? Previously, Israeli Prime Minister Benjamin Netanyahu called “violation grave“the shooting of the Lebanese pro-Iranian movement towards a contested area on the borders of Lebanon and the part of the Syrian Golan occupied and annexed by Israel, promising to”react forcefully“.
????️ Thursday's meeting of the Organization of the Petroleum Exporting Countries (OPEC+), which must decide on its production policy in the coming months, is also eagerly awaited by the market.
The postponement of the meeting, initially scheduled for Sunday December 1, is a sign of “discord“within the cartel.
Countries like the United Arab Emirates or Kazakhstan would like to increase their production, although the consensus of analysts still agrees on unchanged production.
Commenter Oil on the rise, supported by Chinese recovery
Community barrel price
