Brexit Worries Eased: Crude Oil Prices Advance

Crude oil prices advance as improvement in situation around Brexit trigger increase in investor’s risk appetite

However, this trend could be slowed down by the US Columbus Day holiday, which regularly reduces investors activity.

Crude oil prices increased in last 2 days of last traders’ week. EU negotiators in matter of Brexit agreed that proposal of UK Prime Minister Boris Johnson is not acceptable by the EU. Such decision could postpone Brexit for at least another month, which would mean that UK is still going to be a member of EU on 1st of November. Negotiations could be pushed forward by the Queen, who is set to open a new session of UK Parliament today.

Price of Oil – Brent Crude now revolves around $59 per barrel. WTI Crude Oil price is now slightly below settlement price of 11th October at $53,51 per barrel.

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