North Sea variety Brent rose in price by 42 cents to $ 48.28.
Oil production
On Wednesday, oil prices picked up on the gains of the past trading days and temporarily rose to their highest levels since March. A barrel (159 liters) of the North Sea Brent cost 48.28 dollars (40.69 euros). That was 42 cents more than on Tuesday. The price of a barrel of the US West Texas Intermediate (WTI) rose 33 cents to $ 45.24.
Once again, oil prices were dragged up by the generally positive mood on the financial markets. On Tuesday, the leading US index Dow Jones Industrial broke the 30,000 point mark for the first time on the New York Stock Exchange.
Market observers also pointed to an imminent policy change in the USA. In the largest economy in the world, the course has been set for a break with the politics of President Donald Trump: The elected successor Joe Biden emphasized the leadership of the USA when presenting his team for foreign and security policy. It became clear that the USA will again rely more heavily on the support and partnership of other countries. That raises hopes for more economic tailwind.
