New York.– The price of Texas intermediate oil (WTI) opened this Monday with a rise of 0.34%, to $71.26 a barrel, after a week in which it was left 11%, due to investor fear of a possible US recession.
At 9:00 a.m. New York local time (14:00 GMT), WTI futures contracts for January delivery were up 24 cents from the previous day’s close.
The US benchmark oil price rose this morning to face a week in which investors’ eyes are on the meeting of the US Federal Reserve (Fed), which is scheduled to announce a new interest rate hike.
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But before inflation for November will be known, a figure that could influence the final decision of the US central bank.
Analysts expect the Fed to reduce the pace of interest rate hikes, located between 3.75% and 4%, and to announce a 0.5% rise instead of 0.75%, as announced after each meeting since last March with the objective of cooling the economy to reduce inflation.
Investors fear that if the fed continues with an aggressive interest rate policy the economy enters a recession that could reduce the demand for fuels.
