Optimistic financial markets: the price of Oil on the way to the pre-crisis level

The price of Oil rose on Tuesday temporarily to almost $ 44 per Barrel (i.e. 159 litres) of North sea Brent crude oil. This was the highest level since mid-Marc

Optimistic financial markets: the price of Oil on the way to the pre-crisis level

The price of Oil rose on Tuesday temporarily to almost $ 44 per Barrel (i.e. 159 litres) of North sea Brent crude oil. This was the highest level since mid-March. The American variety of West Texas Intermediate (WTI) rose temporarily on 41,49 dollars, an increase of more than 3 percent compared to the previous day.

Christian Siedenbiedel

editor in the economy.

F. A. Z.

The Oil market, especially the good mood on financial markets was made for the price increase. Eugen Weinberg, Ölfachmann of Commerzbank, said, "a certain optimism", given the recent strong recovery in Demand in China, not traceable. The Events on the Oil market have stabilized: This is demonstrated by the fact that the due date of the current futures contract for WTI will hardly even notice it. Two months ago, this had been for violent market turmoil, the price was even turned into Minus.

BRENT -- -- (--) German BankBNP Paribas 1T 1W 3M 1J 3J 5J To the detail view WTI -- -- (--) Deutsche Bank 1T 1W 3M 1J 3J 5J For detail view

Trumps Advisor

the night before, confused the Oil prices had eased at times abruptly. The trigger had been the remarks of the American President's Advisor Peter Navarro. This had referred to the "trade deal" between the United States and China, as finished. President Donald Trump responded, but a little later on the short-messaging service Twitter, the agreement was "completely intact". Also the petrol prices in Germany continued to rise – at least an average of 1,104 Euro per litre for Diesel and 1,264 Euro per Liter of Super E10.

Updated Date: 23 June 2020, 09:20

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