Oil Drops 9% After Hamas Attack on Israel; What Is Behind This Decline?

Written by Paulo Nogueira

Published on 17/11/2023 at 09:39

Temor diante de conflito em Gaza levou à alta da commodity; no entanto, preço vem caindo desde então, tocando o menor patamar desde julho (imagem: Pixabay)

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Global Actions. The Tension Resulted in Significant Fluctuations in Oil Prices, Directly Affecting International Economic Prospects.

The Recent Confrontation in the Middle East Between Israel and Hamas Raised Concerns in the Market, Especially Due to the Region’s Influence on the Oil Market.

The Price of Brent Oil Rose After the Attacks on October 7 Against Israel, Reaching $89.65 on October 16, 2023. However, Since Then, the Price Dropped by 9%, Being Traded at About $81 This Wednesday (15). Previously, It Reached $79, the Lowest Value Since July.

Some Factors May Explain the Recent Movement: The Fear of a Supply Reduction Due to the Conflict in the Middle East Decreased, Thanks to the Increase in Production Announced by the United States, as Well as the Increase in Production Reported by OPEC (Organization of the Petroleum Exporting Countries).

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Forecast for Increased Oil Demand Despite the Expansion of Electric Vehicles

The Agency Estimates That Oil Demand Will Increase to 930,000 bpd, Compared to the Current 880,000 bpd. On the Other Hand, It Forecasts That Demand May Slow Down Due to the Growing Adoption of Electric Vehicles and the End of the Post-Pandemic Economic Recovery Phase.

Source: Money Times

Oil Drops 9% After Hamas Attack on Israel; What Is Behind This Decline?

Global Actions. The Tension Resulted in Significant Fluctuations in Oil Prices, Directly Affecting International Economic Prospects.

Forecast for Increased Oil Demand Despite the Expansion of Electric Vehicles

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Tiny watermelons, sweet and with red or orange flesh, can become a choice for those who want an individual fruit without waste and easy to produce.

Oil Drops 9% After Hamas Attack on Israel; What Is Behind This Decline?

Global Actions. The Tension Resulted in Significant Fluctuations in Oil Prices, Directly Affecting International Economic Prospects.

Forecast for Increased Oil Demand Despite the Expansion of Electric Vehicles

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

Secret chamber sealed 4,500 years ago found in the Pyramid of Khufu, and Hawass announces its opening to the world in 2026

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

Germany installed vertical solar panels on a lake in Bavaria, and the result broke conventional logic: instead of producing energy at midday peak, the plant generates more early in the morning and in the evening, exactly when families turn on appliances and factories are in full swing.

While communities suffer from water scarcity and the advancing desert, women in Morocco use nets high up in the mountains to trap fog droplets, fill reservoirs, and transport drinking water through more than 10 km of piping.

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Macaúba has ceased to be a pest in the cerrado and has become a billion-dollar bet to supply planes and trucks, with Mubadala eyeing R$ 15 billion, vegetable oil, degraded lands, and sustainable fuel that still depends on future commercial-scale harvesting.

Research vessel departs from Fortaleza this Sunday for a 35-day mission to map the Brazilian ocean floor and search for unknown marine species, two-ton robot on board can descend up to 6,500 meters deep.

China built a 300-meter horizontal skyscraper that connects four towers at a height of 250 meters, with a steel structure weighing 12,000 tons, equivalent to the Eiffel Tower, and it was assembled on the ground before being lifted with hydraulic systems.

Tiny watermelons, sweet and with red or orange flesh, can become a choice for those who want an individual fruit without waste and easy to produce.