Saturday, September 30, 2023

Texas oil falls 0.94% to US$78.89 a barrel

The price of Texas intermediate oil (WTI) fell 0.94% and closed at US$78.89 a barrel, moving further and further away from the US$80 barrier.

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

The crude inventories of USA 6.1 million barrels fell in the week ending August 18, the Energy Information Administration published on Wednesday.

However, the stocks of gasoline from the United States increased by 1.5 million barrels last week.

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 increases in interest rates.

On the other hand, natural gas futures contracts for October were down US$0.06 to US$2.59, and gasoline futures due the same month were down US$0.01 to US$2.55.


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