The prices of Petroleum continued to fall this Tuesday, but remained near three-week highs due to tensions in Middle East given that China showed some signs of economic recovery.
The Brent crude oil futures They were down 29 cents or 0.35% at $83.27 a barrel at 0912 GMT. While US crude West Texas Intermediate (WTI) for April delivery fell 38 cents, or 0.38%, to $78.08 a barrel. The March WTI contract was up 8 cents or 0.1% at $79.27 a barrel ahead of expiration later in the session.
Houthi rebels Yemenaligned with Irancontinued their aggressions against the maritime routes in the Red Sea and the Bab al-Mandab Straitwith at least four more ships hit by drone and missile attacks since Friday.
One of them, the freighter RubymarBelizean-flagged, British-registered and Lebanese-run, in the Gulf of Aden, was in danger of sinking, the Houthis said, raising the stakes in their campaign to disrupt global shipping in solidarity with the Palestinians of Loop.
Tourism income in China increased 47.3% year-on-year and exceeded levels prior to the Covid-19 pandemic during the national holidays of Lunar New Yearwhich ended on Saturday.
China It also cut the benchmark mortgage rate on Tuesday in a bid to shore up its troubled housing market and economy.
However, favorable price factors did not completely offset fears about demand. Last week, a bearish report from the International Energy Agency (IEA) revised downward the oil demand growth forecast for 2024, as the world shifts towards cleaner energy.
Source: Ambito
