New York. The price of Petroleum Texas Intermediate (WTI) opened this Wednesday with a rise of 1.12%, to break the psychological barrier of 120 dollars and settle at 120.75, after several days moving around this limit.
At 0900 local New York time (1300 GMT), WTI futures contracts for July delivery were up $1.34 from the previous session’s close.
The reference oil in USA continues its upward trend this morning despite the fact that the American Petroleum Institute (API) advanced on Tuesday that crude oil inventories in the country increased by 1.8 million barrels last week, which implies a reduction in demand.
Read more: Texas oil opens 0.20% higher to $103 a barrel
The API also reported that inventories of gasoline grew by another 1.8 million and derivative products by 3.4 million.
The Energy Information Administration is scheduled to release official inventory data for last week today.
Investors do not seem to have been affected by the rectification of the world Bank announced yesterday on the global growth forecast, which lowered it to 2.9%, that is, 1.2 points less than what was projected in January, when it was placed at 4.1%.
In addition, he warned that the war in Ukraine, high prices and problems in the supply chain could lead to a situation of stagflation-high inflation coupled with very weak growth.
