Over the past two days, oil prices flew to eight percent, almost completely overcoming the fall in the last weeks, the data of the London Exchange ICE.
As of 16:30, the Brent variety is traded at $ 69.5, WTI – 66.7 dollars. Compared with the end of the last week, quotes grew by five dollars.
The reason for this was the change in the expectations of market participants regarding the US policy. The head of the Federal Reserve Bank of Dallas Robert Kaplan on Sunday, August 22, declared the possibility of revising the plans to tighten the US monetary policy. Previously, he expressed the opposite opinion, but the spread of a new strain of coronavirus and the increase in the number of diseases forced him to revise the position.
As a result, analysts agree that the federal reserve system will refuse plans for the failure of the “Money Printing” for a few more months. Clear the situation should speech by the head of Fed Jerome Powell.