Oil falls worldwide as stocks rise ahead of Wersch's speech
Global oil prices temporarily rose during the week, but they are currently heading toward their first weekly loss in three weeks, with Brent crude down by 0.6% to $89.20 per barrel. Experts forecast a weekly decline of over 5%. Investors expect an agreement between Iran and Oman regarding the management of shipping traffic through the Strait of Hormuz, although any deal would require a response from the United States to Iranian conditions. Meanwhile, the market is awaiting the speech of U.S. Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium, seeking signals about the path of interest rates amid divisions within the Fed and expectations of rate hikes in the coming months. Additionally, the yield on 30-year U.S. Treasury bonds fell to 5.20%.
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