The price of a barrel of oil had significant highs this week. After recent statements from OPEC about a clear evidence of market rebalancing after years on offer, the price of "black gold" should good appreciation. West Texas Intermediate crude oil (WTI) was negotiated over $ $49 dollars in future contracts, while Brent was up $ $56, the barrel.
After the Declaration, the cartel said that stands in reduction Pact aiming to enhance the commodity. The market is now reached waiting for disclosure of OPEC reports on the levels of supply and demand, in order to analyze the impacts of the cuts, as well as storms that hit American cities in recent weeks.
Investors still await the decision of u.s. President Donald Trump, scheduled for tomorrow, October 12, on the certification of Iran in relation to the international nuclear agreement. That's why the Iranians are one of the major producers of oil in the Middle East, and a divergent decision could change the posture of the Persian country as the production of "black gold".
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