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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

World oil prices hit 2014 highs

January, 18 2022
watermark Economic news

On Tuesday morning, the oil market shows prices rising to 2014 highs amid tensions between Yemen and the United Arab Emirates, which may lead to supply disruptions.


The current price of Brent oil is $87.20 per barrel (the daily maximum is $88.12), the cost of North American WTI oil is $84.28 (the maximum is $85.16 per barrel).


Oil began to rise in price yesterday after another drone attack in Abu Dhabi, which led to damage to several oil tanks and the shutdown of the international airport in Abu Dhabi. Previously, oil fields in the UAE have already been attacked in 2018.


Additional support for oil prices is provided by the general weakness of the US dollar and the recovery of global demand. Today, the dynamics of quotations may be affected by OPEC forecasts in the framework of the monthly report.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.