New York, (EFE) – The price of Texas intermediate oil (WTI) closed this Friday with a strong rise of 3.6% and stood at 93.10 dollars after the market’s reaction to the expectations expressed by Washington that Russia invades Ukraine in the next few days.
According to data at the end of operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in March added 3.22 dollars compared to the close of the previous session.
US oil topped $90 this morning and soared as White House national security adviser Jake Sullivan said there is “a distinct possibility” that Russia will attack Ukraine before the Winter Olympics conclude in Beijing.
“This was not expected, taking into account some constructive comments during the week,” analyst Edward Moya, from the Oanda firm, said in a note, who considered that crude oil prices are going to be “extremely volatile and sensitive” to the situation in Ukraine.
Texas futures were on their way to breaking a streak that has made the price more expensive in the last seven weeks, but a new accumulated revaluation of 1.85% was noted, due to fears of that possible invasion of Ukraine, where the US. has already called to evacuate its citizens.
On the other hand, the International Energy Agency (IEA) estimated in its report published today that global demand will rise this year by 3.2 million barrels per day (mbd), reaching 100.6 million, mainly due to the reactivation economy after the pandemic crisis.
The IEA also calculated that OPEC+ has stopped sending more than 300 million barrels to the market since the beginning of 2021 because its members have not met their own production forecasts to reverse the historic 2020 cut, which keeps supply limited. .
Likewise, the nuclear negotiations with Iran have been a bearish factor in recent days along with the prospect that the Federal Reserve will soon tighten its monetary policy to control inflation, which in January recorded its highest rise in 40 years.
Meanwhile, natural gas contracts for March delivery fell less than two cents to $3.94 per thousand cubic feet, and gasoline contracts due the same month added seven cents to $2.74. the gallon
