Oil prices rose on Tuesday, in a market driven by new geopolitical tensions and the continuous weakness of the dollar.
The price of the Brent barrel of the North Sea, for delivery in September, rose 0.55% to $ 67.11.
Its American equivalent, the West Texas Intermediate (WTI), also for delivery in August, earned 0.52% to $ 65.45.
Two rockets impacted Monday night at Kirkuk airport, in Northern Iraq, a responsible for security services told AFP, in an attack that was not claimed by any group.
A few hours later, on Tuesday morning, another source of security services told AFP that the anti -aircraft defense system had repelled at least one drone near an oil refinery in the province of Saladin.
“That made a little noise” in the market, explained analyst Robert Yawger, from Mizuho USA.
“We get used to a more comfortable situation” in geopolitical terms after ceasefire between Iran and Israel, “although I think it is not a serious concern,” he added.
In parallel, the dollar marked in the first half of 2025 its worst start of the year in more than half a century, with the confidence of investors deteriorating from the return of Donald Trump to the White House.
According to the evolution of Dollar Index, which compares the value of the American currency with a basket of other strong currencies, the green ticket has lost 10.8% in the first six months of the year.
A weakened dollar “tends to increase the price of oil,” said Yawger.
When being negotiated in dollars, technically the crude becomes less expensive for other countries when the dollar ticket low.
In addition “the market is in a large average waiting” of the decision of the organization of oil exporting countries and its allies (OPEP+) on the production levels of their member countries, which have been raising its production, explained from its side Arne Lohmann Rasmussen, by Global Risk Management.
Investors expect OPEC+ to announce an increase of 411,000 barrels per day in its August production, maintaining the same level of May, June and July, approximately three times higher than the initial production plan established last December.
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