The price of Texas intermediate oil (WTI) It opened on Tuesday with a rise of 1.59% and surpassed the $85 barrier, reaching $85.04 per barrel.
At 9:00 a.m. local time (1:00 p.m. GMT), WTI futures contracts for delivery in May totaled $1.33 compared to the close of the previous session.
According to experts, one of the reasons for these increases are the geopolitical conflicts in the Middle East and Eastern Europe.
He Security Service of Ukraine (SBU) and Ukrainian military intelligence (GUR) attacked an oil refinery in the Russian Republic of Tatarstanaccording to Ukrainian media reported this Tuesday.
While yesterday, Tehran promised a harsh response against Israel for bombing and destroying his consulate in Damascuswhere the Iranian ambassador resided, who was unharmed, but which caused at least eight deaths, including an important brigadier general of the Revolutionary Guard.
“The strong Chinese manufacturing PMI, along with the news that Israeli military forces attacked the Iranian consulate in Syria with a missile, killing several members of the Iranian Revolutionary Guard, helped boost oil prices”notes Tom Essaye today in his report The Sevens Report.
The expert also points out that the report that the production of the Organization of Petroleum Exporting Countries (OPEC) fell 50,000 b/d in March “added separate supply and demand tailwinds to the market.”
Investors also have an eye on U.S. economic data to try to guess when the Reserva Federal (Fed) de EE. UU. will cut interest rates, which is expected to encourage consumption and demand for oil. EFE (I)
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