Oil and Gold Prices Continue to Increase

Forex News

Oil prices are rising at the beginning of the week. Both Brent and WTI grew by 2%. Brent crude rose in price by $0.26 (0.50%) - to $52.78 per barrel. The price of WTI crude oil is at $49.65.

Last week, OPEC President, Saudi Energy Minister Khalid al-Falih noted that 100% compliance with the reduction agreement is necessary. Saudi Arabia intends to increase pressure on countries that deviate from the agreed indicators. Meanwhile, the US is considering the issue of tightening sanctions against the Venezuelan oil industry.

Weakness of the US dollar is the main factor affecting the gold price. In early trading in Asia, gold traded at $1269.00 per ounce.