The oil price intermediate of Texas (WTI) closed this Friday with a rise of 0.6%, to 85.05 dollars a barrel, although in the weekly calculation it lost a slight 0.65%.
At the end of the operations in the New York Mercantile Exchange (nymex), the futures contracts of the WTI for delivery in December, the new reference month, they gained 0.54 dollars compared to the previous close.
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The benchmark oil USA has chained several days to the rise encouraged by the news that China is considering softening the restrictive measures against covid-19.
Also, some analysts believe that investors these days are inclined to see the glass as half full, instead of half empty, and do not believe that the Federal Reserve’s measures to aggressively raise interest rates will lead to a recession.
“Crude prices are ending the week higher as risk appetite returns with hopes the Fed doesn’t push the economy into a severe recession,” the firm’s analyst wrote. Oanda Ed Moya.
The president of United States, Joe Bidenannounced this week that it will release 15 million barrels of oil from its strategic reserves to calm gasoline prices after the production cuts announced by the OPEC+and that skyrocketed its value.
However, the US government’s measure does not seem to have achieved its objective and, for the time being, has failed to counteract the upward trend in black gold, in a context that continues to be dominated by a tense balance between supply and demand.
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December natural gas futures contracts were down 36 cents to $5.47, and those for gasoline Due the same month, they added less than a penny to $2.47 a gallon.
