Oil prices recorded an increase this week, thus recording the highest increase this month; Brent crude reached $86 and West Texas Intermediate crude reached $81. These high prices came during the recent period that witnessed a rise in oil prices after global transformations that were summarized in attacks on some Russian oil refineries and the high growth of Chinese factories. China is the largest importer of oil in the world.

Recently, there has also been a decline in OPEC+ exports; Which contributed in one way or another to the recent rise in oil prices to the highest level since last November.

Commenting on this rise in prices, the founder of the Singaporean company "Vanda Insight" Vandana Hari said that the attacks on Russian refineries would raise oil prices by between two to three dollars.

Existing events also affected December Brent crude futures; The difference between the 2024 contract and the 2025 contract widened to become $4.83 per barrel, while that difference at the beginning of this year was $2.66. These events also had effects related to the acquisition of contracts, as the number of contracts acquired rose to its highest level since October 2021.