Oil prices rise today in Saudi Arabia due to the decline...

Oil prices rise today in Saudi Arabia due to the decline...
Oil prices rise today in Saudi Arabia due to the decline...

Oil prices are rising today again, after falling at the end of yesterday’s trading session in the oil market to below $81 for Brent crude, under pressure from the rise of the US dollar in yesterday’s trading.

Oil prices today in Saudi Arabia

The value of the Brent oil futures contract rose today by 0.59 points, and a change rate of 0.73% compared to the opening price of 81 dollars per barrel, as it reached at this moment to 81.46 dollars per barrel, regaining some of the gains it lost at the end of the oil market’s trading yesterday. Today, Brent oil is expected to reach its highest level at $81.49 a barrel, while it will reach its lowest level at $80.88 a barrel.

Read also: Events that Gulf stock market shareholders are awaiting during the week

WTI Crude Oil Prices

Crude oil prices opened today on a positive price gap, as the closing yesterday stopped at the level of 78.23 dollars per barrel, while the opening price for the morning session came today at 78.5 dollars per barrel, while it continued to rise until it reached this moment to 78.95 dollars per barrel, approaching It is very far from its highest level during this period of $79 a barrel, and it is expected to reach its highest level today at $79 a barrel, while its lowest level today is $78.36 a barrel.

Read also: High oil prices enable 4 Gulf stock exchanges to consolidate gains

Oil boosts its profits today

The price of oil fell yesterday in light of the decrease in its supply due to repairs and maintenance work in the Libyan pipeline, which resulted in a decrease in production from 1.3 million barrels per day to 729,000 barrels per day, but production returned to rise again yesterday evening, Monday, but the supply is still less It is announced by the Organization of Petroleum Exporting Countries (OPEC).

While oil prices rose today, Tuesday, due to the decline in concerns also about the Omicron axis, and the dollar’s decline at the beginning of trading in the money market today by 95.9 points, equivalent to 0.05%, as it makes oil cheaper for holders of other currencies, which opened the appetite of investors.

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