He oil price Texas Intermediate (WTI) rose 1.8% this Wednesday and closed at $70.90 a barrel -returning to exceed $70 after its fall last week- shortly after the Federal Reserve (fed) from the US will announce its decision to increase interest rates by 0.25 points.
At the close of business in New York, a barrel of WTI for May delivery was up $1.23 from Tuesday.
With this rise, which occurs in the midst of the crisis caused by the collapse of two banks in the country and the rescue of a third, the rates are in a range of between 4.75% and 5%.
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This is the ninth rise in rates in a year to combat inflation, although it is less than that anticipated by the Fed, which had contemplated accelerating the pace of the increases when the banking crisis had not yet broken out.
The price of black gold rose in the minutes after the annFed Startup, as “central bank language on future rate hikes softened, supporting the outlook for risky assets,” said Troy Vincent, an analyst at NTDin statements collected by Market Watch.
The Information Administration of InEE ergy.UU. The EIA said crude inventories rose 1.1 million barrels during the week ending March 17.
On the other hand, natural gas futures contracts for May were down $0.17 to $2.30, and gasoline futures due the same month gained $0.05 to $2.56.