The oil price Texas intermediate (WTI) opened this Friday with a rise of 1.62%, to $ 82.32 a barrel, when optimism for a “quick and smooth” reopening of Chinathe world’s leading importer of oil, is still present.
At 9:04 a.m. local time (14:04 GMT), WTI futures contracts for March delivery were up $1.31 compared to the previous day’s close.
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Tom Essayein today’s The Sevens Report, notes that “hopes for a swift and smooth reopening process in China continue to act as a tailwind for the broader oil and energy markets.”
essay It also notes that “solid gains” were seen following the release of gross domestic product data on Thursday, which showed output cooled less than expected in the fourth quarter of 2022, posting an annual rate of 2.9 %.
Now, all eyes are on the next step of the Federal Reserve (Fed) of state Joinedwhich will meet next week and, according to the expertswill moderate its interest rate hikes further, probably to a quarter of a percentage point.
