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).
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“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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