Brent crude climbs 4 cents after opening the wheel with a drop of 55 cents. A) Yes, the barrel operates at US$79.39, after touching US$78.80 the day before, its minimum since January 4 and before the conflict between Russia and Ukraine broke out, which triggered fuel prices.
Brent stabilizes below $80 on Tuesday for the second time in 2022, erasing gains for the year that lifted prices close to all-time high of $147 in March.
For its part, the West Texas Intermediate in the United States rises 10 cents after losing 38 cents at the open. A) Yes, the barrel is sold at u$s74.40.
“There is still a lot of uncertainty in the markets today,” he said. Claudio Galimberti, senior vice president of Rystad Energy in dialogue with Reuters, adding that the Crude production in Russia may not fall as much as expected previously.
The fear that the capping Russian crude prices to cause a supply crisis has subsided. As reported Wednesday by the newspaper vedomostiMoscow is studying options that include ban the sale of oil to some countries to counteract the ceiling imposed by the Western powers.
Prices received some support from hopes of recovery of Chinese demand.
Beijing announced the most radical changes to its regime against COVID-19 on Wednesday since the start of the pandemic, easing rules to slow the spread of the virus, which was hurting the world’s second-biggest economy and sparking protests.
Source: Ambito
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