Friday, December 8, 2023

Texas oil opens 0.13% higher, to $71.38 a barrel

He price Texas Intermediate Oil (WTI) barrel opened higher this Friday with a rise in 0.13%and stood at US$71.38 a barrel, after yesterday’s drop caused by some information about a possible agreement between the United States and Iran that would lift some sanctions on exports from that country, but which the White House denied.

At 09:00 local time, the futures contracts of the WTI for delivery in July they earned US$0.09 compared to the close of the previous day.

The reference oil of USA It woke up today in green after yesterday’s sudden drop due to information about a supposed agreement. However, after Washington denied them, the price began to recover and today dawned in positive territory.

It is not yet clear if the weekly computation the WTI will manage to end with gains, since last Friday it closed at US$71.74 a barrel.

“It has been a very hectic week in the markets of oil, in which the operators have been forced to digest the last compromise agreement of OPEC + against the backdrop of new increases in interest rates and the weakening of the prospects for the world economy, “said the analyst from the firm Oanda Craig Erlam.

Erlam was referring to the production cut announced by Saudi Arabia during the meeting of the oil cartel last Sunday and to the fears that the US Federal Reserve will once again raise prices. interest ratesafter their meeting in the middle of this month, instead of taking a break.


Please enter your comment!
Please enter your name here

Latest article