The prices of oil They continued to recover on Thursday, in a market less pessimistic about the supply-demand relationship.
A barrel of North Sea Brent for delivery in December gained 0.84% to $73.16.
Meanwhile, a barrel of West Texas Intermediate (WTI) for the same date advanced 0.95% to $69.26.
The oil market thus continues on the path of recovery it took on Wednesday, after a sharp fall on Monday after Israel’s attack on Iran.
But the limited scope of the offensive caused the market to “completely eliminate the risk premium associated with the conflict in the Middle East,” observed Daniel Ghali of TD Securities.
“But that geopolitical balance is, to say the least, fragile,” he added in a note.
On Wednesday, crude oil recovered with a reserve report in the United States that was very favorable to prices.
Added to this panorama is a series of measures adopted by the Chinese authorities to relaunch its economy, which “cannot be ignored,” said John Kilduff, of Again Capital.
On the oil supply side, market agents trust that the Opec+ alliance will postpone the planned production increases.
WITH INFORMATION FROM AFP.
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