The oil price intermediate of Texas (WTI) fell 0.71% on Tuesday and closed at $78.96 a barrel, as concerns grow about the growth of covid-19 cases in China, the world’s main importer of crude oil.
At the close of business in NYWTI futures contracts for February delivery lost 57 cents from the previous day’s close.
As China relaxes its strict restrictions to protect itself from the pandemic, cases of covid-19 increase and the images that come from hospitals inundated with patients are beginning to worry.
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Investors hope that commercial reserves of Petroleum US crude oil have decreased compared to the previous week in the data that will be published on Thursday by Department of Energyaccording to a survey of analysts and Traders by The Wall Street Journal.
On the other hand, futures contracts for natural gas for February they lost 57 cents, up to 4.70 Dollarsand those of gasoline with expiration the same month gained almost 1 cent, up to 2.36 dollars a gallon.
