Oil prices fell on Wednesday, December 28 Given the global concern caused by the relaxation of sanitary measures in China and the reopening of the Asian giantone day after rising timidly due to tensions regarding the Russian supply.
(See: ExxonMobil sued the EU to block tax on oil companies).
The North Sea Brent Barrel for delivery in February fell 1.26% to $83.26.
as long as the American West Texas Intermediate (WTI)for February delivery, lost 0.71% to $78.96.
(See: Brent remains close to 85 dollars and WTI, to 80 dollars).
The announcement made the day before by Moscow that it will prohibit the sale of
oil to foreign countries that they apply a price cap to Russian black gold momentarily increased crude oil prices.
But now it’s more like the reopening of china the one that worries the operators.
Though beijing has announced that it will soon lift entry restrictions to its territory, other countries have begun to impose limitations on travelers from China for fear of a spread of new infections.
(See: Recession fears push the price of oil down).
“In the long term, the reopening of China is very promising for the oil market, but in the short term, there are a lot of sick people,” which “could turn out to be a negative factor for prices.” of the oil, assured Bill O’Grady, from Confluence Investment.
(See: Russian oil price caps: who will win?).