On Friday, November 1, oil prices continued their growth, rising by more than $ 1 per barrel. Brent oil futures went up by $ 1.39, or 1.9%, up to $ 74.20 per barrel. At the same time, the price of American WTI (West Texas Intermediate) increased by $ 1.44 or 2.1%to $ 70.70.
This price rise occurred against the background of Israeli intelligence messages, which warns Iran's possible attacks on Israel in the coming days. According to information, a blow can be made from Iraq, and Iran can use a large number of ballistic missiles and drones. However, analysts believe that neither Iran nor Israel seek the beginning of a full -scale war, and probably new actions will be limited.
In addition to geopolitical factors, oil prices are also affected by the expectations that OPEC+ countries can postpone an increase in oil production for December. This decision, according to reports, was caused by anxiety about the relatively low demand for oil.
Recall that at the beginning of the week, oil prices fell as a result of limited blows of Israel in the Iranian territory, which demonstrated the country's intention to avoid further escalation of the conflict. However, price fluctuations do not prevent Russia from systematically increasing the supply of "black gold", which emphasizes the stability of the market in global challenges.
