NY.- The price of Texas intermediate oil (WTI) opened this Thursday with a rise of 1.15%, up to 74.8 dollars a barrel, a rebound that follows the fall of 3.2% registered on Wednesday due to fears of that future increases in interest rates by the Federal Reserve (Fed) to control inflation negatively affect demand.
At 9:00 a.m. local time (14:00 GMT), WTI futures contracts for April delivery added $0.85 compared to the previous day’s close.
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According to analysts, a further rise in rates would also translate into a revaluation of the dollar, the currency of exchange for black gold, which makes the product more expensive compared to other currencies.
The benchmark oil price in the United States stabilized on Thursday while waiting for the Energy Information Agency to announce last week’s oil inventories in the United States, a sign of the balance between supply and demand in the country.
“Investors remain concerned about the economic impact of the aggressive policy of the Federal Reserve during the last year, and due to the expectations that it will continue in the coming months and quarters, “analyst Tom Essaye, from the firm Sevens Report, wrote this Thursday in his daily report.
