NNew York.- The price of Texas intermediate oil (WTI) opened this Tuesday with a drop of 1.42%, to 101.14 dollars a barrel, after having soared 5.1% yesterday amid concerns about a reduction in supply of Russian gas in Europe and also because of the weakness of the dollar.
At 09:00 local New York time (13:00 GMT), WTI futures contracts for delivery in August were down $1.42 from the previous session’s close.
The reference oil price in the United States woke up today lower after reports of the failure of the president’s visit were also known yesterday Joe Biden in Saudi Arabia to achieve an increase in crude oil production with which to control its price.
for signature Seven’s Reportin the current environment of volatility, the price of oil could move between a maximum of 120 dollars due to the impulses of the lack of demand and a minimum of 90 dollars a barrel due to fears of a recession.
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Yesterday, the benchmark crude oil in the US again exceeded the psychological barrier of 100 dollars after losing almost 7% in value the week after it became known that the state-owned Russian Gazprom has declared a force majeure disruption to its gas supply in Europe to at least one major buyer due to “extraordinary” circumstances, which has hit oil markets.
On the other hand, the weakness of the dollar against other currencies after several days of appreciation made it cheaper yesterday to buy US crude, which is denominated in this currency, for foreign buyers.
