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January 29, 2022
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Texas crude closes 0.2% higher at $86.82

Texas crude closes 0.2% higher at $86.82

The price of Petroleum intermediate of Texas (WTI) closed this Friday with a rise of 0.2%, up to 86.82 dollars, while in the whole of the week it is revalued by 2%.

According to data at the end of operations in the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in March added 0.21 dollars compared to the close of the previous session.

The Petroleum The benchmark in the US adds its sixth consecutive week of rise, reaching close to its highest price in the last seven years and analysts do not rule out that the trend will continue.

Fuel prices have risen 15% since the start of the year due to the imbalance between limited supply and growing demand, coupled with geopolitical conflicts.

The investors have been aware of the military tensions between Russia and Ukraineand threats to United Arab Emirates by the Houthi rebels from Yemen, which may affect supply.

Meanwhile, the US has seen a larger-than-expected weekly rise in crude stockpiles, which are at their lowest levels in a year at this time.

The next meeting of the OPEC+ alliance is on February 2, in which the large producers are expected to maintain their policy of gradually increasing supply for the month of March.

Meanwhile, natural gas contracts for March delivery added 36 cents to $4.64 per thousand cubic feet, and gasoline contracts due the same month rose two cents to $2.54 a gallon. .

Reliable, trustworthy and easy. Multimedia news agency in Spanish.

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