The price of Petroleum intermediate of Texas (WTI) rose 1.8% on Monday to close at $109.57 after G7 leaders showed their willingness to accelerate a clean and fair shift to climate neutrality while ensuring energy security.
At the close of trading on the New York Mercantile Exchange (Nymex), WTI futures contracts for August delivery gained $1.95 from the previous close.
The countries of G7 They underlined this Monday their commitment to accelerate a transition towards climate neutrality that is “clean and fair” and that at the same time guarantees energy security.
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Along with the war in Ukraine, this objective was the central point of the deliberations on the second day of the Elmau summit, in southern Germany, in which the club of industrialized nations joined as guests Argentina, India, Indonesia, South Africa and Senegal.
The German Chancellor, Olaf Scholz, also considered that with the start of the Russian invasion of Ukraine on February 24, there cannot be, for Russia, “a turn back”since with it he embarked on a path of “no return” and broke with all the fundamental principles of the international community.
He admitted, however, that there are “different perspectives” regarding Russia. He thus alluded to the position of several of those invited countries, three of which -India and the two African states- had abstained in the condemnatory vote against Russia in the UN General Assemblylast May.
For its part, the price of futures contracts for natural gas for July it was up 28 cents to $6.5, and gasoline futures due the same month were down 4 cents to $3.83 a gallon.
