The analyst noted that in the oil market, “on Thursday there was a significant increase in quotations and prices were supported by technical factors, persistent geopolitical risks, as well as an increase in the forecast for global oil demand by the International Energy Agency (IEA).
“Oil buyers were able to break through important resistance at $84 per barrel.
The IEA raised its estimate of global oil demand in 2024 by 200 thousand barrels per day to 103.2 million barrels per day.
Next week oil may reach $87.5 per barrel.
With a favorable external background - $88.5,” Antonov shared.
Earlier, the price of Brent oil on the London ICE exchange exceeded $85 per barrel for the first time since November 7, 2023.