Oil prices have risen over the last 24 hours and Brent has recorded $ 64.17 per barrel

(MENAFN – Youm7) Oil prices have risen over the last 24 hours. Brent crude rose 46 cents or 0.7% to $ 64.17 a barrel, while crude oil in western Texas rose 41 cents or 0.7% to $ 57.28. Per barrel.

According to media reports on Tuesday, rising oil prices and growth prospects for fuel demand in the United States of America, one of the largest consumers in the world.

According to international media, forecasts of an increase in fuel demand would come from the optimism that the US central bank will cut rates this week, the first decline in more than a decade, which would indicate a reduction of borrowing costs.

The meeting of the Federal Reserve Bank of America kicked off Tuesday with a two-day meeting to decide the interest rate.

Oil prices have also favored the opening of trade negotiations between the United States and China.

In the context of Iran's seizure last Friday of the British tanker "Stina Empero", the British Ministry of Defense announced that the Royal Navy would be following British flag ships in the Strait of Hormuz.

While Saudi Arabia plans to build new lines to secure oil exports out of the Strait of Hormuz, Saudi Energy Minister Khalid al-Falih plans to increase the East-West pipeline capacity of 40% within two years.

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