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Russian expert: Volatility in oil market associated with Khashoggi's murder

Russian expert: Volatility in oil market associated with Khashoggi's murder

Baku. 26 October. REPORT.AZ/ The volatility of the oil market is related to the fact that Saudi Arabia is interested in the speedy minimization of the tragedy of the murder of journalist Jamal Khashoggi, which happened in their consulate in Istanbul, Russian expert, Doctor of Economics, Professor Nikita Krichevsky told Report.

According to him, as a result, Saudi Arabia offers additional supplies of oil to the market.

Moreover, according to Krichevsky, the United States is the main ally of Saudi Arabia in reducing oil prices.

"The main partner and ally of Saudi Arabia, the United States, represented by Mr. Trump, is interested in reducing the price of oil for the midterm elections to the US Congress on November 6, and household expenditure: heating, electricity and fuel as a whole. Here they act in unison," Nikita Krichevsky said.

Nikita Krichevsky

Russian expert, Doctor of Economics, Professor Nikita Krichevsky

The main partner and ally of Saudi Arabia, the United States, represented by Mr. Trump, is interested in reducing the price of oil for the midterm elections to the US Congress on November 6, and household expenditure: heating, electricity and fuel as a whole.

The professor added that besides the aforementioned reasons, now "there is a general anxiety in world markets, and oil is not so much a raw material as a stock commodity, which depends on various situations on the world stage."

December futures of Brent crude oil, according to the information at 10:00 Baku time, fell by 0.83% to $76.25 per barrel.

The cost of WTI crude oil futures for December delivery on the New York Stock Exchange fell by 1.08% to $ 66.60 per barrel.

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