Texas Oil closes at $73.77 a barrel; in the DR fuels continue to be "fried"

The oil price intermediate of Texas (WTI) rose a slight 0.1% this Friday and closed at $73.77 a barrel, but ended with weekly losses.

At the close of business in NYthe futures contracts of the WTI for delivery in February they added 0.10 dollars with respect to the close of the previous day.

However, the price of black gold decreased by $6.49 compared to last week’s close.

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Investors fear that this year the economy The world is facing a recession due to the tough measures that world banks are implementing to curb inflation.

Another big concern on the part of investors is how the opening of China, which is the main importer of crude oil, will play out.

As of January 8, covid-19 will cease to be a category A disease in China, the level of maximum danger and for whose containment the most severe measures are required, to become a category B, which includes control more lax, thus marking in practice the end of the policy of ‘zero covid‘, dismantled by the authorities after protests broke out.

Meanwhile, energy demand is expected to double compared to last year for the upcoming trips vacation of the Lunar New Year.

However, the increase in cases of covid-19 in the Asian country could affect negatively to crude oil consumption and create bottlenecks in supply chains.

Read: Manuel Crespo denounces the Government “has a plan to financially suffocate” the JCE

On the other hand, futures contracts for natural gas for February they lost 0.01 dollars, up to 3.71 dollars, and those of gasoline maturing the same month they lost $0.02 a gallon to $2.24.