Oil rises for the eighth consecutive week and positive trading in Asia, Europe and the United States

2021-10-17T17:50:47
Oil positive trading USA
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Oil rises for the eighth consecutive week and positive trading in Asia, Europe and the United States

Oil rises for the eighth consecutive week and positive trading in Asia, Europe and the United States: Oil managed to continue the hike for the eighth week in a row,
and the exchanges in Europe, Asia and the United States of America grew as well, ending the week higher. 

Evest follows all this in the following report.

Topics:

Oil gained 3% last week

United States Vaccine Commission approves an additional dose of the Johnson & Johnson vaccine

Bitcoin exceeds 60 thousand dollars for the first time since April

Hikes in the US, Asian and European stock markets

 

Oil gained 3% last week

Oil prices rose on Friday, ending the week with gains of more than 3% to close in the positive zone for the eighth week in a row,
with strong demand amid the global energy crisis in both Europe and Asian countries. 

The cost of Brent oil futures for December on the London Stock Exchange ICE Futures is $84.77 per barrel, 0.92% higher than the closing price on Thursday. 

Earlier during trading, the futures price rose for the first time since October 2018, above $85 per barrel, to $85.1 per barrel. 

US crude oil futures for November rose in trading on the New York Mercantile Exchange by this time, by 0.98%, to $82.13 per barrel.

Prices have risen more than 13% over the last month, with signs that supply will be limited over the next few months,
while rising gas and coal prices have led to a dramatic shift to petroleum products.

Rising natural gas and coal prices in Europe and Asia have forced companies to use oil and petroleum products more actively. 

Bank of America analysts predict a market supply deficit of about 1 million barrels per day, according to Trading Economics. 

Meanwhile, Goldman Sachs experts believe that the price of Brent crude could rise to $90 per barrel by the end of this year,
with the market experiencing “the longest deficit in recent decades.”

The International Energy Agency (IEA) predicts that demand for oil could rise by 500 thousand barrels per day

in the coming months as a result of the energy crisis. 

This could lead to a rapid decline in the reserves of the Organization for Economic Cooperation and Development (OECD) countries,
as OPEC + continues to adhere to the previously defined plan to restore production, and gradually increase it.

 

 

 

United States Vaccine Commission approves an additional dose of the Johnson & Johnson vaccine

The US Food and Drug Administration (FDA) Vaccines Committee has approved an additional dose of Johnson & Johnson’s COVID-19 vaccine, according to CNN reports.
Members of the Committee unanimously supported this decision.

It is recommended that a booster dose of the vaccine be administered to citizens over 18,
not later than two months after vaccination with this single-component vaccine.
The Food and Drug Administration will now decide whether to approve this recommendation of the Committee.

The US company Johnson & Johnson has submitted a request to the Food and Drug Administration (FDA) ,

for approval to use an additional dose of its COVID-19 vaccine in early October.

About 15 million people in the United States received a single-component vaccine from Johnson & Johnson against the coronavirus.

In September, the US Food and Drug Administration approved a booster dose of the Pfizer vaccine for people over 65,
as well as for people at risk of serious illness and those at risk of the virus.

 

 

 

Bitcoin exceeds 60 thousand dollars for the first time since April

Bitcoin rose above the $60 thousand mark on Friday for the first time since April of this year.

Traders are awaiting the results of a US SEC study of requests for bitcoin-traded investment funds, according to MarketWatch. 

Four of these requests were submitted in August, and some are due to undergo organizational review next week.

The cost of the cryptocurrency was $61,260, which was 6.5% higher than the price at the close of the previous session, according to data from CoinDisk.

Cryptocurrency companies have repeatedly tried to get SEC approval to create ETFs for bitcoin since 2013, but the regulator has always denied their requests. 

Launching such a fund would increase the legitimacy of cryptocurrencies and make it easier for institutional investors to invest in this market.

The day before, the SEC’s Investor Education Service tweeted a message warning investors not to “assess risks and benefits” before investing in a fund based on bitcoin futures. 

This tweet was taken by some traders as a sign that the SEC may approve the first bitcoin trading fund next week.

In September, SEC Gary Gensler’s president announced support for bitcoin-traded investment funds,
that would invest in crypto-currency futures traded on the Chicago Mercantile Exchange (CME).

 Hikes in the US, Asian and European stock markets

In the United States, stock indices rose by 1.6-1.7% on Friday, and Standard & Poor’s rose by 1.7%,
the most since March, amid reports of the largest US banks and a number of other companies exceeding expectations.

On Friday, growth in stock indexes also prevailed in Asia, with Japan’s Nikkei index rose by 1.8%,
China’s Shanghai Composite 0.4% and Hong Kong’s Hang Seng 1.5%.

In Europe, the rises of British Futsy, French Kak and German Dax Pence ranged from 0.4% to 0.8%. 

In the United States, statistics were received from different actors on Friday.

Retail sales rose in September by 0.7% on a monthly basis against expectations of a 0.2% decline. According to revised data, sales rose by 0.9% in August,
up from 0.7% as previously announced, according to Trading Economics.

The New York Empire’s Manufacturing Activity Index fell in October to 19.8 points against expectations of falling 25 points from 34.3 points in September.

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