Economy

Oil: Brent prices improve to 83.82 USD/Barrel

Oil prices continued to improve on Tuesday amid signs of global economic growth that boosted the projection for energy demand, especially from the United States.

Brent crude futures rose by 0.47 percent to 83.82 USD/barrel, after closing yesterday Monday up by 0.83 percent to.83.43 USD/Barrel.

The price of U.S. crude futures WTI rose by 0.55 percent to 82.38 USD/Barrel. Crude closed yesterday up 0.81 percent to 81.93 USD/Barrel.

According to analysts, this improvement in oil prices to optimism about the global economic outlook, as a positive element for prices.

In particular, both China’s exports raised more than expected last October and demand from the United States, the world’s largest consumer.

In addition, the border was reopened on Monday to travelers from Mexico, Canada and Europe who had been vaccinated against covid-19, ending the 20 months of restrictions.

Oil prices are also still backed by OPEC+ ‘ s decision previous week that suggest to not to accelerate its plan to increase supplies.

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