Home » Business » Texas oil opened down to $85.30 – 2024-04-11 19:43:11

Texas oil opened down to $85.30 – 2024-04-11 19:43:11

A machine pumps oil in Signal Hill, California, USA, today August 29. Authorities fear that oil prices will increase with the arrival of Tropical Storm Idala in the United States. EFE/EPA/CAROLINE BREHMAN

The price of Texas intermediate oil (WTI) It opened this Thursday with a drop of 0.15%, to $85.30 a barrel.

At 9:08 local time (13:08 GMT), WTI futures contracts for delivery in May were down 13 cents from the close of the previous session.

According to analysts, investors are taking profits after the recent rally that took Texas to its highest price since October.

Yesterday afternoon, the US Government announced an unexpected weekly increase in commercial crude oil reserves, of 3.2 million barrels, which also weighed down the session.

Despite everything, analysts believe that the supply and demand prospects in the fuel market remain tight and that the price will continue to rise.

Supply remains pressured by geopolitical tensions in middle East and Eastern Europe, as well as the reduction in the production capacity of the OPEC+. EFE (I)

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