After novemberthe WTI lost 7% but maintains a gain of 6.6% since the beginning of the year. In the case of Brent down 10% in the month but it rose 9.8% during 2022.
US West Texas Intermediate (WTI) crude futures rose 2.1% to $79. The support for prices was a consequence of expectations of a lower oil supply.
US crude stocks fell by 7.9 million barrels in the week ending November 25, according to market sources citing figures from the American Petroleum Institute on Tuesday. Official figures from the US Energy Information Administration will be released later in the day.
For its part, the International Energy Agency expects Russian crude production to fall by about 2 million barrels a day by the end of the first quarter of next year, its chief, Fatih Birol, told Reuters on Tuesday. On the demand side, optimism about the recovery of demand in China, the world’s largest buyer of crude oil, provided additional support.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
