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If you wish to open an account in an EU investment firm and protected by EU laws, you will be redirected to Ultima Markets Cyprus Ltd (the “CIF”), a Cyprus investment firm duly licensed and regulated by the Cyprus Securities and Exchange Commission with license number 426/23.
Brent crude oil futures rose 1% on Thursday, settling at $79.16 per barrel. The increase was built upon a 2.4% gain from the previous session. Several factors supported the upward movement, including positive U.S. job data, which eased fears of a recession. In the US, weekly jobless claims fell to 233,000 for the week ending August 3, a decrease of 17,000 from the previous week, indicating strength in the labor market.
Geopolitical tensions also played a role in the price increase. Concerns over potential retaliatory actions by Iran against Israel, following the recent assassinations of Hamas and Hezbollah leaders in Tehran, contributed to the upward pressure on oil prices. Additionally, Israeli forces stepped up airstrikes across the Gaza Strip on Thursday in further battle with Hamas-led militants, as Israel braced for a potential wider war in the region. The escalation stoked concerns over the oil supply from the world’s largest-producing region.
The rebound in oil prices, which had hit a seven-month low on Monday, was further driven by disruptions in Libya’s largest oil field and a rare Ukrainian attack on Russia. The combination of economic data, geopolitical tensions, and supply disruptions collectively supported the recovery in oil prices observed during the trading session.
(Brent Crude Monthly Chart)
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Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission "FSC" of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
HuaPrime EU Ltd, registered number HE423188, and with a business address at Georgiou Griva Digeni 122A, Kallinicos Court, Shop 1—Upper level, Neapolis, 3101 Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission, which has CIF license number 426/23.
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