According to data at the end of operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in January, the new reference month, totaled $ 0.81 compared to the previous session.
US oil had started to decline but was turned around by the possibility that the OPEC + alliance would change its plans to progressively increase production if its clients release reserves.
Previously, Texas fell on speculation about a coordinated action by the United States, Japan, China, India and other consuming countries to release part of their strategic oil reserves.
Analysts believe that this action would help to counteract the strategy of OPEC, which refuses to accelerate the increase in its production, and would lower the price of oil.
“OPEC + is responding to the US-led coordinated effort to curb rising energy costs as the global economic recovery meets fear of runaway inflation,” explained Oanda analyst Kenny Fisher. .
Meanwhile, investors are concerned about the global spike in COVID-19 cases, the re-imposition of mobility restrictions in some European countries and its impact on fuel demand.
On the other hand, natural gas contracts for December delivery rose 28 cents to $ 4.79 per thousand cubic feet, and gasoline contracts due the same month rose 5 cents to $ 2.26 a gallon. EFE
