Puritan buyers are the biggest winners of oil prices

Futures of crude oil were a strong recovery from the lowest levels earlier this month, while it remained low during the purchase of the euro. Brent Ru futures have dropped by 11% since the beginning of the year, but the decline was greater for buyers in Europe. After a period of twice the exchange rate of the dollar, the price of a barrel of oil for about 58 euros, which has been near the lowest level since the beginning of the year, is a 19% drop since the beginning of this year. The weakness of the dollar generally increases the attraction of basic merchandise such as oil as it gives many buyers more purchasing power. It tends to improve short -term consumption and apply long -term hedging strategies that prove the cost of supplies. Since the price of crude oil has dropped, a recovery has appeared in both directions. The euro’s fastest increase in 16 years earlier this month has seen the euro the fastest rise since 2009, which utilizes the weakness of the US dollar. You can also like it: The euro stands out as a safe haven and bets on its arrival at this price against the dollar, Pierre Sheldroub, chief commodity analyst in “BEE”, said: “We saw some major purchases earlier this week, and what attracted attention was that the price was transferred to the euro in return.” “It is thanks to the prevailing belief that the weakness of the dollar is generally a positive indication (for the assets or goods traded in other currencies). The countries of the world other than the United States get oil at a cheaper price in exchange for their local currencies, and this will improve the demand for oil,” according to Childrob. Beneficiaries of low oil prices, companies in the fields of aviation and shipping have tried to take advantage of the low price of the barrel to less than $ 60 earlier this month by securing future supplies at constant prices, according to people who are familiar with the market at the time. The heating of fuel sales in Germany was also a significant increase, and one of the platforms recorded the highest level of sales still registered since 20 years ago.