Jakarta, CNBC Indonesia – World oil prices shot up in trading this morning. Understandably, the price of the black gold has fallen for weeks. Prices are already ‘cheap’ to make investors look again and buy oil contracts.
On Monday (29/11/2021) at 06:45 WIB, the price of Brent oil was at US$ 74.97/barrel. Up 3.09% compared to last weekend’s position.
Meanwhile, the light sweet type costs US$ 71/barrel. Soared 3.9%.
Last week, the price of Brent plunged 7.82% on a global basis point-to-point. This makes the price experience a correction for five consecutive weeks. In those five weeks, prices fell by almost 15%.
Meanwhile, the price of light sweet last week fell 10.45%. Like brent, the price of oil produced in the United States (US) has also fallen for five consecutive weeks. In that period, the price fell 18.63%.
SoNo wonder investors are keen to collect oil contracts this morning. Because the price has been discounted massively.
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