Oil prices end 2024 with the rise of the anticipation for the new year

Oil prices rose in light to end a fixed performance in 2024, with the willingness of the market next year to a global surplus. The “West Texas” mediator rose 1% to settle at $ 71.72 a barrel, with a profits of 7 cents in 2024. Brent Ru advanced 0.3% to go to $ 74.64, a 3.1% decline during the year. Raw prices rose on Tuesday after the factory activity expanded for the third month in China, the largest oil importer in the world. A further reference to the economic recovery, Chinese President Xi Jinping said that GDP of the country is expected to expand about 5% for the entire year of 2024, in accordance with the official goals. The Saudi interests on the Mediator of Western Texas reached the highest level in four months in the penultimate week of 2024, as investors were willing to achieve possible profits in the new year. Crude oil has been stuck in a narrow trade scope since mid -October, swinging between the factors that support prices, such as geopolitical unrest, and that urgent prices such as the possibilities to raise the global offer in 2025. Some banks have expected the prices of crude oil to continue twice. On the other hand, it can provide a possible inflammation of hostilities in the Middle East or Ukraine short -term support for oil prices. Mike Waltz, Trump’s candidate for the position of the national security advisor, promised to return to the “maximum pressure” campaign over Iran, which affected the country’s export of crude oil during the first Trump period. “I will not buy in the light of this overwhelming decline,” says John Drichol, director and founder of the consulting company JTD Energy Services, based, and adds: “But we can see some discipline in terms of oil producing countries, and I will not exclude the possibility of surprises such as geopolitical events or extremes.”