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The Middle East faces volatility in 2024 with ceremonies honoring military personnel and rebel attacks. Price changes and conflicts remain worrying.
Conflicts in the Middle East continue to cause instability in the region. Recent attacks in Iran, Israel and Yemen increase tensions and concerns regarding the oil barrel price. With the world's largest oil producers located in this area, it is natural that changes in the price of a barrel of oil impact global markets. However, to what extent can this instability affect the Brazilian economy?
O oil barrel price changes daily, influenced by several factors such as production, exports, geopolitical conflicts and demand. Currently, WTI and Brent oil vary between 70 and 80 dollars per barrel. According to Bank of America analysts, Brent oil is expected to reach an average of 80 dollars per barrel in 2024. Despite the volatility, Petrobras' new pricing policy and advances in pre-salt exploration should maintain oil prices. petroleum derivatives, such as gasoline and diesel, stable in Brazil. However, extreme geopolitical events can still generate more pronounced influences on international oil prices.
Price of a barrel of oil falls after price changes during ceremony
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SPORTS AND FITNESS – FREE MARKET
The price of a barrel of oil showed a significant drop this week, following price changes during the opening ceremony of the New York Futures Exchange. A volatility The price of oil has been a topic of discussion in global markets, amid conflicts in the Middle East and attacks to oil installations. Experts point out that the recent drop is related to tensions between the Islamic State and Houthi rebels, which impacted the production of oil in the region.
In the last trading session, the price of a barrel of oil closed at US$60,50, reflecting investors' uncertainty regarding the supply and demand for the commodity. Volatility is expected to continue in the coming days, due to recent attacks on oil installations in the Middle East. Analysts also warn of the possibility of the price of oil reaching values close to the records reached at the beginning of the year, if the situation in the Middle East worsens.
Faced with this scenario, the oil industry has been looking for alternatives to guarantee market stability, considering the unpredictability of geopolitical conditions. Furthermore, the expectation of a resumption of global demand for oil has influenced price projections for the coming months. Despite the uncertainties, the price of a barrel of oil remains one of the main economic indicators around the world, reflecting the interconnection between financial and geopolitical markets.
Source: moneytimes
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