Saturday, December 2, 2023

Texas oil falls 0.06% and closes at US$68.56 a barrel

He price Texas intermediate oil (WTI) fell a slight 0.06% this Thursday and closed at US$68.56 a barrel, adding a new day in red between fears of a recession and a drop in demand.

At the close of operations in New York, the barrel of WTI for delivery in June depreciated 4 cents with respect to the working day before, when it had fallen more than 4%, adding to the 5.3% plunge on Tuesday.

The reference crude in USA it had started the session with a slight bounce, but in the end it ended in negative, albeit with a very limited retracement.

The price of oil has fallen sharply in recent days, losing the psychological barrier of the $70 for the fear that the rises in the interest rates result in recessions in the United States and other countries, doubts about demand in China and, in general, nervousness in the markets after the recent banking turmoil.

yesterday, the Energy Information Agency announced that US oil inventories last week fell 1.3 million barrels, more or less what analysts had expected, while gasoline inventories rose by 1.7 millionwhen experts expected a drop of around one million barrels.

On the other hand, the contracts June natural gas futures were down $0.7 to $2.10 today, and June gasoline futures were up less than a cent to $2.33.


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