International oil prices rose during trading on Tuesday, amid a state of anticipation for the statements of Federal Reserve Chairman, Jerome Powell, regarding the interest rate in the United States, and amid following up on the latest developments in the pandemic. Corona.
Later today, Jerome Powell will testify before the US Senate, in conjunction with statements by a number of Federal Reserve officials that the US Federal Reserve may start raising interest rates. Sooner than expected.
Raviendra Rao, head of commodity research at Kotak Securities, told Reuters that the increase in coronavirus cases is causing concerns about demand for crude, as restrictions affect crude demand. on mobility and therefore on levels of fuel demand.
However, despite the sharp increase in cases, none of the major economies has moved towards implementing strict lockdown measures, noting that the virus situation and issues Related to supply as well as trends in stock markets will be key factors in influencing trends in oil markets in the short term.
In terms of today's trading, the benchmark Brent crude futures for March delivery rose by 0.56% to reach $81.32 a barrel, and the US NYMEX crude for February delivery rose 0.72 % at $78.79 a barrel.
