The price of Petroleum Texas Intermediate (WTI) rose 2.4% this Wednesday and stood at 97.26 dollars a barrel, due to the fall in inventories in the US and the announcement that Russia cuts the flow of gas to Germany to 20% of the capacity of the Nord Stream.
At the close of trading on the New York Mercantile Exchange (Nymex), WTI futures contracts for September delivery were up $2.28 from the previous close.
The price of Petroleum The benchmark in the United States closed higher after yesterday leaving 1.8%, dragged down by fears of a recession and its impact on demand.
The Russian gas company Gazprom cut this Wednesday for “technical reasons” the pumping of gas to Germany to a fifth of the capacity of the Nord Stream gas pipeline, up to 33 million cubic meters per day, a decision that according to Berlin responds to a “war strategy “.
For its part, the Energy Information Administration reported that inventories of Petroleum fell last week by 4.5 million barrels to 422.1 million and US crude exports rose to a record 4.5 million barrels a day.
In addition, the United States Federal Reserve (Fed) announced on Wednesday a rise in the official interest rate of 0.75 points, the second in the last two months, to try to curb runaway inflation.
With this increase, which is the fourth since the Fed began raising rates in March, the official interest rate of the world’s largest economy is now within a range of between 2.25% and 2.5%.
September natural gas futures contracts fell 30 cents to $8.68, and gasoline futures due the same month added 7 cents to $3.42 a gallon. EFE
