Market Analysis

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer: ForexMart does not offer investment advice and the analysis provided should not be construed as a promise of future results.

November 25, 2020 12:18 pm

Brent. November 25, 2020 – Oil continues to renew highs

The oil market continues to grow, hitting multi-month highs. Brent is currently quoted at $48.50 per barrel.

Prices are supported by hopes for improved economic outlook and increased demand for hydrocarbons. Pharmaceutical companies continue to share positive news of the success of the Covid vaccines, boosting hopes for a fast global recovery and resumption of international travel.

Additional support for oil was also provided by the results of the recent US presidential election, which was won by the representative of the Democratic Party, Joe Biden. The political uncertainty surrounding the elections has significantly decreased, which has given strength to risky assets, which traditionally include oil.

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