Friday, September 22, 2023

Texas oil falls 0.81% and closes at US$82.51 a barrel

The price of Texas intermediate oil (WTI) fell 0.81% this Monday and closed at US$8,251 a barrel, thus breaking its positive streak.

At the close of business on the New York Mercantile Exchange (nymex), WTI futures contracts for September delivery subtracted US$0.68 from the previous day.

Last Friday, the reference crude US achieved its seventh consecutive week on the rise.

Investors now have their eyes on the china economy -second largest oil consumer in the world-, which in recent days announced disappointing economic data.

As well as the high value of the dollar, as a stronger US currency puts pressure on the demand for black gold by making the product more expensive for buyers who have other currencies.


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