The price of Petroleum Texas Intermediate (WTI) closed this Wednesday with a 3.3% risedown to 85.55 dollars a barrel, recouping losses suffered yesterday, when it fell 3.1%, after reports that the US would release more barrels of oil to force the price down.
Upon completion of trading on the New York Mercantile Exchange (Nymex), futures contracts of WTI for delivery in November they earned $2.73 compared to the previous closing.
For the head of market analysis at the firm CMC Markets UK, Michael Hewson, quoted by the MarkeWatch website, these ups and downs respond to “tug of war between supply concerns and demand fears.
In inventory
Today’s rise was also influenced by the latest data on oil inventories from last week that fell by 1.7 million of barrels, higher than expected.
Likewise, the gasoline inventories they saw each other reduced by 100,000 barrelscompared to the increase of two million experienced the previous week.
futures contracts for natural gas for november 28 cents left dollar, up to 5.46 dollars, and those of gasoline due the same month10 cents went upup to $2.65 a gallon.
