The price of Petroleum intermediate of Texas (WTI) rose this Monday by 7.1% and stood at 112.12 dollars on barrel faced with the prospect that the European Union (EU) go away the oil of Russia in a new retaliation for his invasion from Ukraine.
According to data at the end of operations in the New York Mercantile Exchange (Nymex), the futures contracts of the WTI for delivery in April they added 7.42 dollars with respect to the previous close.
Benchmark US crude started the day with a strong rise and ended at its highest price in a couple of weeks, also influenced by the expiration of contracts for April, which will take place at the close of tomorrow’s session.
According to analysts, the main moving factor was the possibility that the European Union sanctions Russian exports of Petroleum as a new measure of pressure and punishment Russiasomething that his ministers were discussing today at a summit in Brussels.
“Optimism is fading for progress in ceasefire talks in Ukraine and that has raised the price of PetroleumHargreaves Lansdown analyst Susannah Streeter was quoted as saying by CNBC.
The market has also reacted to the attack by Yemen’s Houthi rebels on a Saudi Arabian power terminal this weekend, with Riyadh warning on Monday that a possible shortage of supplies could take place.
This situation occurs amid international calls for Saudi Arabia and other OPEC members to increase their production to curb the rise in prices, given that they have stuck to their plan agreed last summer to gradually open the taps each month. .
Meanwhile, natural gas contracts for April delivery rose 4 cents to $4.9 per thousand cubic feet, and gasoline contracts due the same month added more than 13 cents to $3.37 a gallon. .
