After a hard week, oil rises Monday

Oil prices rose sharply in the first nine months of the year, with significant market growth and growth indicators for testing.

U.S. Rates rose 5.6% in New York on Monday, the biggest one-day growth since early November. Investors rushed to stocks and commodities in response to fears of a slowdown in China’s economy. Meanwhile, the world’s largest population has reduced domestic virus cases to zero, and US regulators have given full approval to the country’s widely used CVD-19 vaccine.

KeyBanc Capital Markets Inc.

In the first half of the year, a series of fires erupted in the weeks following fears of a resurgence of oil spills. Traders will be watching the Federal Reserve’s annual Jackson Hall Symposium, which begins this weekend, to find clues to any policy changes in central banks.

“We’ve seen a lot of pressure in recent weeks,” said Hans van Cliff, senior energy economist at ABN Amro Bank. “So that could explain a large part of today’s support. Hunting and exploration of bargains in other parts of the property.

Prices:

  • West Texas Medium in October delivered $ 3.50 to sit on a barrel in New York at $ 65.64.
  • Brent rose from $ 3.57 to $ 68.75 for the October settlement

The Delta variant has also weakened the oil future. The time for Brent’s rapid expansion was once a barrel of 44 cents: near-expiration dates are very expensive after delays. That compares to 92 cents at the end of July. Goldman Sachs Group Inc. noted in a note:

(With the help of Alex Longley and Elizabeth Lowe. © 2021 Bloomberg LP)

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