Thursday, September 21, 2023

Texas oil falls 0.5% to US$80.35 a barrel

The price of Texas intermediate oil (WTI) fell 0.5% to close at $80.35 a barrel as concerns about Chinese demand persist among investors.

At the close of business on the New York Mercantile Exchange (nymex), WTI futures contracts for September delivery were down US$0.37 from the previous day.

This Tuesday is the expiration day of the contract for September.

The futures Oil prices ended lower on Tuesday for the second session in a row, and the market can’t seem to shake concerns about the economic outlook for China and the implications for demand from the world’s second largest consumer of crude oil.

He American Petroleum Institute will publish its weekly inventory data today.

On the other hand, the official data of the Energy Information Administration They will be published on Wednesday morning.

This week, in addition, investors are awaiting the meeting of central bankers on Friday in Jackson Hole, where the president of the Fed will intervene, Jerome Powellin search of clues about the foreseeable new rises in the interest rates.

On the other hand, natural gas futures contracts for September subtracted US$0.07, up to US$2.56, and gasoline futures due the same month added US$0.01, up to US$2.78.


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