The price of Petroleum Texas Intermediate (WTI) opened this Friday with a rise of 2.83%, and was placed at 98.5 dollars a barrel, although it is heading to close a week with losses after last Friday its price stood at 104.79 at the end of the operations.
At 09:00 local New York time (13:00 GMT), WTI futures contracts for delivery in August added 2.72 dollars compared to the close of the previous session.
The opening rebound comes after a week in which the price of the Petroleum The reference price in the United States fell below the psychological barrier of 100 dollars after the pessimistic report on the demand of the International Energy Agency (IEA) and knowing that June inflation in the United States shot up to 9.1%. .
Concerns about faltering demand are starting to outweigh supply concerns related to the war between Russia and Ukraine and that has been putting pressure on energy futures markets this week. to his clients.
The IEA assured on Wednesday that in 2022 an average of 99.2 million barrels per day will be consumed, which represents an increase of 1.8% compared to 2021 and one tenth less than what the agency had anticipated in June.
Analysts justify this correction by the latest data showing that consumption is being lower than expected in the three large OECD regions (Europe, North America and Asia-Pacific) and they believe that high prices are having an impact.
Likewise, the inflation data, which once again set a record not seen since 1981, also triggered fears that the Federal Reserve (Fed), which has been raising interest rates since last March, will continue with the same policy.
