Texas oil opens with a rise to USD 78.30 – 2024-02-24 08:24:26

The price of Texas intermediate oil (WTI) opened this Wednesday with a rise of 0.55%, reaching $78.30 a barrel, when investors analyzed both the latest economic data from EE. UU. such as geopolitical tensions.

At 9:00 a.m. local time (14:00 GMT), WTI futures contracts for delivery in March totaled 43 cents compared to the close of the previous session.

Investors today analyze the inflation data in USAannounced on Tuesday, which fell three tenths again in January, to 3.1%, a fall that is in line with the objectives of the Reserva Federal (Fed) and its plans to start lowering rates at some point this year if prices continue to fall.

Just as the forecasts of the Organization of Petroleum Exporting Countries (OPEC) published this Tuesday, which indicated that global oil demand will grow at a good pace this year and in 2025, with China’s consumption and transportation fuels driving this trend the most.

Investors will also be watching official data from the US Energy Information Administration today.

Yesterday, crude oil rose 1.24% after the United States rejected a ceasefire agreement in Ukraine presented by Russia.

So far this year, WTI has risen more than $6, partly due to escalating tensions in the Middle East as attempts to reach a ceasefire agreement between Israel y Hamas fails, to which other ‘fronts’ are added such as those opened in Lebanon, Yemen and Iraq. EFE (I)