New York. The price of Texas intermediate oil (WTI) closed with a rise of 0.8%, to 97.28 dollars a barrel, after touching 100 dollars in the morning due to the Russian offensive in Ukraine.
According to data at the end of operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in April added 0.71 dollars compared to the previous close. The reference oil in the US began the day with a rise of 7.5% parallel to that of the European barrel in reaction to the attack ordered at dawn by Russian President Vladimir Putin on Ukraine.
However, both the Texas and the Brent prices moderated as the hours passed since, according to some analysts, the supply of oil and natural gas has not yet been affected by an escalation.
A reduction in concerns was also seen on Wall Street, which began the session with drops of 2% and seemed willing to close in the green after the announcement of new US economic sanctions. to Russia.
Texas has been on the rise for several days due to the escalation of the conflict, taking into account that Russia is the second largest oil exporter after Saudi Arabia, as well as the largest producer of natural gas.
The price of WTI, which remains at levels not seen since 2014, has appreciated by 23% since the beginning of the year, pressured in large part by the growing demand for fuels and the tight supply.
On the other hand, natural gas contracts for delivery in April added 5 cents to 4.64 dollars per thousand cubic feet, also slowing the advance after shooting up 5% this morning.
Gasoline contracts due the same month rose 4 cents to nearly $2.92 a gallon.
The bags
Wall Street closed in the green, retracing early losses attributed to concerns about Russia’s offensive in Ukraine, after the US announced sanctions on Russian banks and oligarchs. According to data at the end of the session on the New York Stock Exchange, the Dow Jones Industrials rose 0.28% or 92.07 points and stood at 33,222.83, while the selective S&P 500 advanced 1.50% or 63.20 units, to 4,288.70.
