ব্যঙ্গাত্মক বর্ণনা এবং ফরেক্সের প্রবেশদ্বার বিন্যাস
Oil reaches its previous lows
According to data from the ICE exchange, November Brent crude oil futures dropped by 2.3%. The price of this benchmark is now approaching the lows of December 2023.
Analysts noted that oil prices reached their lowest level at $75.69 per barrel. A month ago, Brent slumped to a critical low of $75.06, but that was a brief dip. For most of 2024, oil traded much higher.
Over the last two months, the benchmark oil price has fallen by more than $10. The main reason for this slump is China's weak demand for raw materials. Experts point to lackluster growth forecasts for China's economy and the rising popularity of electric cars. What is more, global economic instability is fueling the fire.
Against this backdrop, currency strategists at Goldman Sachs have lowered their outlook for average global Brent prices in 2025 by $5. They now expect the benchmark to cost $77 per barrel next year. A price below this level is unlikely, according to the bank. Analysts are taking into account the rising demand for hydrocarbons in India. They also believe that the ongoing tensions in the Middle East contribute to the current decline in oil prices.
প্রকাশিত 09 September 2024
© InstaFintech Group
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© InstaFintech Group
