Rising oil prices after US borders reopen to foreign travelers

The world oil price reached $ 84 per barrel on Tuesday, IRNA reported on Tuesday from Metro US. Brent crude traded up 62 cents, or 0.7 percent, at $ 84.05. US crude traded up 82 cents, or 1 percent, at $ 82.75 a barrel.
Brent oil and US oil both experienced 0.8% price growth yesterday.
The reopening of US air and ground borders on Monday paved the way for foreign travelers to enter the United States, as the passage of President Joe Biden’s infrastructure bill and increased Chinese exports to the world accelerated the recovery of the global economy.
“Reopening US borders will increase demand for jet fuel and increase its price,” said Thomas Varga, an oil market analyst at PVM.
He added that the passage of Joe Biden’s $ 1 trillion bill would also help boost oil prices.
Brent crude rose 60 percent to $ 86.70 a barrel on October 25 this year. The reason for this growth is the limited oil production by OPEC Plus as well as the improvement in demand.
At its meeting last week, OPEC Plus decided to continue its plan to gradually increase oil production, and thus US requests from the organization did not affect its decision.