Oil prices .. “NYMEX” rose at $75.45 a barrel… and “Brent” at $79.53


Arabian Business Egypt – Oil prices ended the trading session on Monday, the first session of the week, on the rise, amid concerns about supplies and with optimism about global demand for crude.

The price of US NYMEX crude for November delivery rose 2%, or $1.47, at $75.45 a barrel.

The price of Brent crude futures for delivery in November also rose by 1.8 percent, or the equivalent of $1.44, to record $79.53 a barrel, the highest level since October 2018.

Crude prices are witnessing continuous increases recently, supported by the decline in global oil inventories in conjunction with strong demand in preparation for entering the winter season.

Goldman Sachs raised its forecast for the price of Brent crude at $90 a barrel by the end of this year, compared to a previous forecast of $80, in light of the rapid recovery of fuel demand from the repercussions of the “Delta” variable and Hurricane Ida, which led to a global supply shortage. .


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