Friday, September 22, 2023

Texas Oil opens down 0.85% to US$73.23 a barrel

He price Texas Intermediate Oil (WTI) barrel opened Monday down 0.85% to US$73.23 a barrel, as a possible recession looms large among investors again.

At 09:00 local time, the futures contracts of the WTI for delivery in August they lost US$0.63 compared to the close of the previous day.

After getting last Friday a weekly rise in the 4.57%this Monday the black gold was negatively affected by the weak economic data from the United States and China.

In addition, investors see it as increasingly likely that at their next meeting the Federal Reserve (Fed), US central bank, choose to raise interest rates.

On the other hand, the price of WTI was helped by the announcement that OPEC+ plans to further reduce its supply.


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