While the barrel of West Texas Intermediate (WTI) for delivery in october it ended virtually flat at $85.11.
Both contracts accumulated a decrease of around 1% in the week.
For Andrew Lebow of the Commodity Research Group, the resistance of crude this Friday despite a retreat in the stock markets, is mainly due to the closure, on Thursday, of the Basra port terminal, in southern Iraq, due to a leak.
Officials quoted on Friday by the Bloomberg agency affirmed that the Iraqi facilities would quickly return to service, but other sources cited by specialized media reported a massive leak, which will take several days to be contained.
This uncertainty gave a push to the rise in crude oil prices. Some 1.5 million barrels of crude per day pass through this oil terminal.
In addition, “energy markets show signs of stabilization, despite the climate of risk aversion,” estimated Bart Melek of TD Securities.
According to Lebow, the proximity of the date of entry into force of the European embargo on Russian oil exports, on December 5, helps prices resist.
Source: Ambito
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