The price of Texas intermediate oil (WTI) It opened this Thursday with a drop of 0.52%, to $78.72 per barrel, after learning that the drop in interest rates in the US will have to wait.
At 9:04 local time (14:04 GMT), WTI futures contracts for delivery in April lost 41 cents compared to the close of the previous session.
This Wednesday, the US Federal Reserve (Fed) predicted in its Beige Book of economic outlook that in the coming months there will be “less restrictive financial conditions”, an indication that interest rates could fall before the end of the year, but not in this first half.
“The outlook for future economic growth remained generally positive” and “expectations of stronger demand and less restrictive financial conditions were observed over the next 6 to 12 months,” states the text published yesterday.
On the other side of the Atlantic, the European Central Bank (ECB) has met expectations and has kept interest rates at 4.5% for the fourth consecutive time, its highest level since 2001, while lowering its inflation forecasts in the eurozone, which will reach the 2% target. in 2025.
On the other hand, today it was learned that the foreign trade of China – the second largest consumer of oil in the world – increased by 8.7% year-on-year in the first two months: exports grew by 10.3% and imports by 6.7%, according to data from the General Customs Administration. EFE (I)
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