The price of futures contracts for “Brent” crude for December delivery increased by 5%, equivalent to 1.96 dollars per barrel, and the price of futures contracts for “Nymex” crude for delivery to the United States in November increased by more than 5.4%, equivalent to $ 2.02, recording 39.07 Dollars per barrel.
This rise comes as a result of optimism about the health of US President “Donald Trump”, as some comments were received from doctors that he might leave the hospital later today, a few days after he announced a positive test for “Corona” virus.
Oil also received support from the escalation of the workers ‘strike in Norway, where the giant energy company “Equinor” closed four of its offshore oil and natural gas fields as workers’ strikes continued, according to Reuters, regarding the situation in Libya, oil production has now risen to 290 thousand barrels. Daily, which is nearly three times what it was during the blockade that began in January and ended in September.
In the same context, prices fell by more than 4%, Friday, amid uncertainty about Trump’s health, which came in addition to fears that the increasing number of cases of Coronavirus could undermine the global economic recovery, but analysts said that Monday’s rise was driven. The biggest concern about Trump’s health has receded, despite some mixed indications about that, said Avatar Sandow, Director of Commodities Affairs at Philip Futures, “I think it is about the improvement of the health of the US president … There were a lot of conflicting reports about his health over the weekend, but he is very General on the mend. ”
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