The price of Texas Oil Intermediate (WTI) Opened this Friday down again, with a decrease of 1.27%, to 95.12 dollars a barrel, due to lower gasoline demand announced yesterday in the United States, despite the peak summer travel season.
As of 9:15 a.m. local time in New York (1:00 p.m. GMT), WTI futures contracts for delivery in September were down $1.23 from the previous session’s close.
The reference oil price in the United States began the day with a new setback (after losing more than 3 percentage points yesterday), as a result of the Energy Information Administration assuring on Wednesday that gasoline inventories rose 3.5 million barrels.
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US gasoline demand remains below where it was two years ago as high prices keep more drivers off the roads.
To this has been added the Russian resumption of gas pumping through the gas pipeline North Streamalbeit only at 30% capacity, easing concerns of lower supply that this outage had sparked.
