Investors were encouraged by reports that Chinese authorities may ease restrictions on the coronavirus, prompting a drop in the dollar and a rise in oil prices.
The world’s benchmark oil price rose sharply on the last working day of the week. This was confirmed by trading data on Friday, November 4th.
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Thus, the futures price for Brent crude oil for January delivery on the London ICE Futures exchange jumped by $3.45 (+3.64%) to $98.12 per barrel. This is the highest level since the beginning of October.
In turn, the futures price for WTI crude oil for December delivery on the New York Mercantile Exchange rose by $3.60 (+4.08%) to $91.77 per barrel.
According to Western news agencies, stock markets are now growing for the first time in the last three days ahead of the release of key US employment data. Investors were encouraged by reports that Chinese authorities may ease restrictions on the coronavirus, prompting a drop in the dollar and a rise in oil prices.
Earlier, the media reported that the G7 agreed on the maximum price for Russian oil. At the same time, Britain has issued a corresponding ban.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.