The oil price intermediate of Texas (WTI) opened this Tuesday with a rise of 0.32%, up to 81.88 dollars a barrel, when optimism for the reopening of Chinathe world’s leading importer of oil, continues to stay above concerns about a possible recession.
At 9:01 a.m. local time (14:01 GMT), WTI futures contracts for March delivery were up $0.26 compared to the previous day’s close.
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US crude started 2023 strongly driven by the increase in business in China, which raised its strict policies against covid-19 this month.
Black gold has also benefited from a weaker dollar, as that makes US crude less expensive for users of other currencies (since the dollar is the currency of main reference for the purchase of crude oil).
The WTI has risen 2.1% so far January.