The price of Texas intermediate oil (WTI) The week began with a rise of 0.95%, reaching $81.46 per barrel, thus continuing the upward pace of last week.
At 9:00 a.m. local time (14:00 GMT), WTI futures contracts for delivery in April added $0.45 compared to the close of the previous session.
US crude oil reached new highs for the year last week and gained 3.47% in its weekly calculation.
Tom Tryin its report The Sevens Report, notes that the rise is partly a result of the “solid” weekly report from the Energy Information Administration (EIA).
“While the International Energy Agency (IEA) revised its demand estimate for 2024 upwards and its supply estimate downwards, raising fears of a physical market deficit this year”.
Essaye also adds other arguments of geopolitical risks: in Ukrainethe forces of that country attacked several refining facilities in Russiawhile the tensions in the middle East they intensify. EFE (I)
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