The oil price intermediate of Texas (WTI) rose 2.4% this Friday and closed at 80.26 dollars a barrela rebound in the last session of 2022 with which it seals an annual accumulated revaluation of 6.5%.
At the close of business in NYthe futures contracts of the WTI for delivery in February they totaled 1.86 dollars with respect to the close of the previous day.
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The benchmark crude oil in the US links two consecutive years to the rise, although the latter seems moderate, due to great volatility, compared to the 55% that rose in 2021 with the economic recovery after the stoppage of the pandemic.
The year that is ending has been marked by the Russian invasion of Ukraine, with a barrel reaching around 130 dollars at its maximum peak, and by the subsequent sanctions by Western powers against Russia.
On the negative side, in the second half of the year the rise in interest rates by the Federal Reserve and fear of recession, as well as the strengthening of the dollar.
Likewise, the covid-19 situation in China, the world’s main importer of crude oil, and the impact that its economic weakness may have on global energy demand has been in the spotlight.
According to experts, next year brings more volatility.
“While growers have finally caught up with the demand post-pandemicother risks remain for next year, notably Russian production with the new price limit and its threats to cut production and not supply the countries that apply it,” he said in a note. Craig Erlamanalyst of oanda.
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On the other hand, futures contracts for natural gas for February they lost 0.8 dollars, up to 4.47 dollars, and those of gasoline maturing the same month they earned $0.9 a gallon to $2.46.