Brent oil price may increase up to $65 per barrel

By Trend

The price of Brent oil increased up to $64 per barrel on the energy exchanges after adjustment, Trend reports referring to the Azerbaijani InvestAz investment company’s weekly report.

If the price does not fall below $63, Brent price may increase up to $65 per barrel.

The important fundamental data on oil and gasoline reserves in the US, which will be disclosed on Nov. 27 at 19:30 (GMT+4), are expected to greatly affect the oil prices.

InvestAZ analysts also described the current situation in the international financial markets and disclosed the short-term forecasts.

Euro

A statement made by the chairman of the European Central Bank on the international currency exchanges that innovative investments in Europe lag behind those in the US caused a drop in the EUR / USD exchange rate.

Thus, having decreased, the exchange rate is approaching the November minimum level. If this happens, the decline may continue up to a minimum level of the last two years.

Moreover, fundamental data on inflation rate in the Eurozone at 16:30 will also play an important role this week.

British pound

The exchange rate of the British pound against the US dollar is also observed. If the exchange rate drops below $1.28 per pound, then one should expect a decrease up to $1.27.

Investors also focus on the election campaign of the ruling party in England, announced on Sunday amid the snap parliamentary election in December, as well as its impact on the financial markets.

Turkish lira

Despite the US dollar exchange rate rose in price on the world currency exchanges, which affected the USD / TRY rate, the exchange rate reached 5.72 Turkish liras ($1). In accordance with the analysis, if the exchange rate remains below the resistance level, it may fall in price up to 5.67 Turkish liras ($0.9).

Gold

The demand for gold declined amid an increase in the US dollar exchange rate in the markets of non-ferrous metals. However, as long as the price remains above $1,456 ($46.8 per gram) per ounce, it is forecasted to increase again.