Editor TLN
The price of a barrel of oil Brent for delivery in May ended this Wednesday in the futures market of londonis at $78.26, 0.50% less than at the end of the previous session. This while ehe butTexas Intermediate Oil (WTI) fell 0.3% to close at $72.97 a barrelafter two consecutive days of increases in which oil again exceeded the barrier of 70 dollars.
North Sea crude oil, a benchmark in Europeconcluded the day in the International Exchange Futureyes with a decrease of 0.39 dollarsyes compared to the last trade, when it closed at $78.65. At the close of business in NYthe barrel of WTI for delivery in May subtracted 0.39 dollars compared to the previous day.
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The Brent price approached the level of 80 dollars per barrel during the session, after learning of a drop in US inventories of more than 6 million barrels, greater than what the market anticipated. The US benchmark oil ended the day lower despite having started it with a rise of close to 1.3%, encouraged by the dissipation of concerns about the financial sector and by the cut off of oil supplies in Iraqi Kurdistan due to political disputes between Erbil and Baghdad.
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The latest data on crude oil inventories for last week, announced this Wednesday by the Energy Information Managementaccording to which crude oil reserves fell 7.5 million barrelscompared to the rise of 92,000 barrels that analysts pointed out.
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A bullish figure, which, in principle, indicates a strong demand, but which has not managed to keep the price of WTI in green territory. One of the bearish data of the day has been a new strengthening of the dollar, the currency of exchange for the US barrel, against the main currencies.
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The price, however, fell back in the last part of the day, when investors collected benefits after the rise of the two previous sessions, according to analysts.
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Some investors justify today’s drop by investors’ rush to reap the gains made in recent days. On the other hand, natural gas futures contracts for May added $0.03 to $2.18, and gasoline futures due the same month lost $0.04 to $2.63.
EFE
