By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Commerzbank reports significant drop in oil prices
Share
Notification Show More
Latest News
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Commerzbank reports significant drop in oil prices
Forex

Commerzbank reports significant drop in oil prices

News Room
Last updated: 2024/10/18 at 7:45 PM
News Room
Share
3 Min Read
SHARE

Carsten Fritsch, a commodity analyst at Commerzbank, suggests that unless there is a renewed escalation of tensions in the Middle East, oil prices are expected to decrease further. This prediction comes after a report in a US daily newspaper indicated that Israel would spare Iran’s oil and nuclear facilities in a potential retaliatory strike, reducing the likelihood of a conflict between the two countries that could disrupt the oil market.

The current focus in the oil market is shifting towards weaker fundamentals and the looming oversupply expected next year. This oversupply could be significant if OPEC+ countries gradually increase oil production from December as planned. The market is eagerly awaiting signals to indicate whether this production increase will proceed as scheduled or if it may be delayed once again. The decision on this matter will need to be made and communicated by early November, with all eyes on statements from key countries such as Saudi Arabia. Should these statements not be forthcoming, it is likely that oil prices will continue to decline.

Overall, the outlook for oil prices remains uncertain as factors such as the ongoing conflict between Israel and Iran, potential supply disruptions, and the possibility of increased oil production by OPEC+ countries all play into the market dynamics. While the recent news of a potential de-escalation offers some relief, the market will continue to monitor developments closely as the deadline for a decision on production increases approaches. In the absence of any concrete announcements, it is anticipated that oil prices will see further downward pressure in the near term.

Given the current market conditions and the potential for increased oil production, it is essential for investors and traders to stay informed and closely monitor developments in the Middle East. Any escalation of tensions or unexpected announcements could quickly change the trajectory of oil prices, leading to volatility and fluctuations in the market. As such, it is crucial to remain vigilant and flexible in response to changing events and news that could impact oil prices in the coming weeks and months.

In conclusion, the future direction of oil prices will depend on a complex interplay of geopolitical events, supply and demand dynamics, and decisions made by key oil-producing countries. While the recent decrease in tensions between Israel and Iran has offered some respite, the market remains cautious and uncertain about the potential for increased oil production and its impact on prices. As the deadline for a decision on production increases nears, all eyes will be on key players such as Saudi Arabia to provide clarity on the path forward for the oil market. Until then, investors and traders should remain vigilant and adaptable to navigate the fluctuations and uncertainties that lie ahead in the oil market.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room October 18, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Qatar’s UN Ambassador joins media campaign in support of UNRWA
Next Article Bahraini adventurers back from two-month Yemen adventure, pending final security approval
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World June 28, 2025
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports June 10, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?