Oil prices rose after falling more than 8%.
The world oil price rose in early trading today after yesterday's sharp fall; While investors are still assessing the impact of the heavy defeat of the Republicans in the US midterm elections on the future of this country and Israel's war with Iran.
Today, the price of a barrel of Brent crude oil in futures trading rose more than 2% to over 96 dollars and 70 cents. The price of American crude oil was trading at an increase of more than one and a half percent, more than 89 dollars and 40 cents.
The prices of both oil indices fell on Wednesday by more than 8% and reached the lowest level since August 31.
Giovanni Stauno, commodity market analyst at Ubias Bank, said that the situation in the Middle East remains unresolved and this has led to a relative improvement in oil prices. Analysts say that on the one hand the markets have considered a higher probability of the end of the war with Iran, and on the other hand they are worried about the possibility of the escalation of the conflicts by the Trump administration before the start of the new congress controlled by the Democrats in January.