Wednesday, December 6, 2023

Texas oil opens 0.63% higher to US$71.32

He price Texas Intermediate Oil (WTI) opened this Friday with a rise of 0.63%, to $71.32 a barrel, and is on track to close the week positively after several losses due to concerns about the future of demand for crude oil.

At 09:00 local time (1301 GMT), the futures contracts of the WTI for June delivery they earned 45 cents from the previous day’s close.

Black gold remained above the barrier of the $70which recently lost out to a slower-than-expected recovery in China, the world’s largest oil importer, and interest rate hikes in USAwhich raise fears of a recession.

Today, the WTI price recovered part of the land that it had lost yesterday, when it fell due to economic data from both countries and the shadow of a possible suspension of payments in the United States, given the reluctance of Republican legislators to approve a rise in the debt ceiling, an issue that they are using to try to get cuts budgets.

The White House He has so far ruled out joining those two negotiations, insisting that out of responsibility the Republican Party must allow the country to continue meeting its obligations to its creditors.

The US government has repeatedly warned in recent days that a default debt would undoubtedly trigger a recession in the country and would even affect the economy of the whole world.


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