Oil price change

Markets rallied after the Fed chairman announced to raise inflation above 2%.

Oil prices fell after the hurricane in Texace, the center of the US oil industry.

West Texaca CLcl futures fell to 42.85 a barrel.

In March, the oil price collapsed when Saudi Arabia started a price war. All this happened against the backdrop of a pandemic, which exacerbated the situation and led to a sharp reduction in air travel and other traffic.

One of the main conditions for the recovery in oil demand, despite its growth, is the resumption of air travel.

Today, the number of air traffic and consumed jet fuel is 50% lower than last year.

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