The barrel of crude oil was trading lower today in the international markets of New York and London, but accumulates its third weekly rise.
West Texas Intermediate (WTI) crude, which operates on the New York futures market (Nymex), fell 0.17% this Thursday and reached US$80.47 a barrel in contracts with delivery in May.
With disparate trend, Brent oil from the North Sea, on the London electronic market (ICE), rose 0.05% and a barrel settled at u$s84.91 but in contracts for June.
Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) reported that its basket of crude oil closed yesterday at $85.49 a barrel, compared to $85.50 the day before, which represented a decrease of 0.01 %.
It should be noted that heoil prices went up on Monday following the surprise announcement by the members of the Organization of the Petroleum Exporting Countries and its partners (OPEC+) by a cut of more than 1.5 million barrels per day from May to the end of 2023.
“Investors weighed OPEC+ plans to further cut production against weak economic data from the US and China, which could suggest cooling oil demand”the operators said.
Thus, crude oil contracts average their third weekly rise.
Source: Ambito
