The intermediate oil price of Texas (WTI) rose 3.6% this Wednesday and reached 104.25 dollars a barrel, while natural gas became more expensive 4.8% to touch 7 dollars. According to data at the end of operations in the New York Mercantile Exchange (Nymex)the futures contracts of the WTI for delivery in May they added 3.65 dollars with respect to the previous close.
Natural gas contracts, meanwhile, rose nearly 32 cents to $6,997 per thousand cubic feet, at levels not seen since 2008. USA yesterday recovered the level of 100 dollars and continued to rise in parallel to other fuels due to the prospect of a tight energy market in the coming months.
The Texas has become almost 40% more expensive since the beginning of the year and the trend seems to be reinforced by the risk that the war in Ukraine intensify after the threat of bombing Kyiv by Russia. In fact, investors ignored the data released today by the US government. on commercial crude oil reserves, which increased by 9.4 million barrels in the last week. The market also reacted to worse-than-expected economic data from Chinaone of the main consumers of crude oil.
We invite you to read: Raw material cost is the main limitation of competitiveness
trade between China and the rest of the world slowed its year-on-year growth rate in March to 5.8% due to the contraction of imports, reported its Government.
Also, this Wednesday International Energy Agency revised downwards its forecasts for global demand for crude oil, as the group from the OPEC.
Meanwhile, gasoline contracts due in May rose nearly 14 cents to $3.29 a gallon.
