1. Sanction on Iran
2. Opec not increasing production
3. Global demand increase
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OPMC didn't increase a production of crude oil.
Strong demand for Crude Oil from globally.
Interest rates are low,may be debt market has no such interest so FII/FPI shifted towards Commodity and demand spike has been increases.
Highest Volume in Crude oil in global market and also indian market.
People's prefer commodity market.
As per my opinion above factors are responsible for oil Price surge.
Prices have risen as more vaccinated populations are brought out of coronavirus lockdowns, supporting a revival in economic activity.
- At the same time, from Asia to Europe, the global commodity prices, including those used as fuel for power generation such as coal and gas, have also surged. In India, some states are experiencing electricity blackouts because of coal shortages. China's government, meanwhile, has ordered miners to ramp up coal production as power prices surge.
- This makes oil an attractive commodity for generating power and keep the economic activity steady, and thus the higher demand is pushing crude markets higher.
- Economic recovery post pandemic lockdowns after successfully vaccinated. Demand surges
- In Asian countries, coal prices surged with the demand for power. This also resulted in shift of focus to Oil to use for power generation
- There is no plan from US Department of energy to keep the oil prices tight
Should I copy the content from google search and modify it or paste without modification? :-|
Let me post the the original content itself!