US oil prices are rising after Wednesday's decline

A barrel of West Texas Intermediate crude oil for delivery on November 11 costs USD 71.72 on the NYMEX in New York, up by 1.34%. Brent on ICE for XII is priced at USD 75.85 per barrel, after an increase of 1.19%.

Investors are anxiously following reports of increased tension in the conflict in the Middle East and assessing the prospects for demand on oil markets in 2025. Secretary of State USA Antony Blinkenwho finished his visit to the city on Wednesday Israelcalled for using the opportunity for strategic success in the Middle East created by the weakening of Hamas's potential. In Blinken's view, a solution would be such a success conflict in the Gaza Strip and normalization of Israel's relations with Saudi Arabia. A US diplomat urged Israel to try to avoid “a more serious escalation” in connection with its planned response to an Iranian missile attack three weeks ago. And in Saudi Arabia, where Blinken traveled from Israel, he held talks with Crown Prince Mohammed bin Salman about efforts to reach a ceasefire in the Gaza Strip and Lebanon.

– Tensions in the Middle East and economic prospects in the world – as a determinant of global demand for oil – are key driving factors on fuel markets – points out Vandana Hari, co-founder of the consulting company Vanda Insights. – Oil fluctuations may remain within a wide range until this situation clears up – he adds. Analysts indicate that oil prices are highly volatile this month because investors are constantly assessing the risks associated with oil supplies from the Middle East, where 1/3 of the world's crude oil supplies come from. In the background there is a mixed picture of demand for oil and its products around the world, especially in Chinawhere oil consumption has clearly decreased and the authorities are trying hard to revive the “slipping” domestic economy.