In ten days Brent has lost more than 11% of its value while the illegitimate Haitian government adjusts upwards (128%) the price of petrol at the pump, still unavailable in provincial cities.
“Oil prices continue to fall amid increasingly bleak economic prospects and a resurgence of Covid cases in China,” Oanda analyst Craig Erlam said.
New York, Friday, November 18, 2022 ((rezonodwes.com)) – Oil prices remained in reverse on Friday, still stifled by the prospect of lower demand, but also driven by signs of rapprochement between the United States and Saudi Arabia, reports the specialized site Price per barrel.
The price of a barrel of North Sea Brent for delivery in January fell 2.40% to close at $87.62. In ten days, Brent has lost more than 11%.
As for the barrel of US West Texas Intermediate (WTI), due in December, it fell 1.91% to $80.08.
In the session, WTI fell as low as $77.24, not far from its January low recorded in September ($76.25)..
« Oil is heading for huge weekly losses “by 10% for WTI” due to heightened fears about bleak demand prospects“, estimates Lukman Otunuga, an analyst at FXTM.
