Investors and analysts continue to pay attention to these movements in search of opportunities and risks in the energy sector.
The oil market is weighed down by some international political variables.
The international market of the oil today experiences a decrease in its contributions in both New York and London.
The price of crude oil West Texas Intermediate (WTI), which is traded on the New York futures market (Nymex), erases the fall it sustained for much of the session and recovers ground (0.8%) to US$84.34 after having given up a 0.24% during the morning.
Similarly, North Sea Brent oil, which is traded on the London Electronic Market (ICE), recovers morning losses of 0.2%. Now, a barrel is trading at $89.08 in contracts for December, recovering more than 1.6%.
Oil: what is behind the turbulence in prices
On the other hand, the Organization of Petroleum Exporting Countries (OPEC) reports that its crude oil basket closes today at US$91.29 per barrel, compared to US$94.29 the previous day. This marks a significant 3.18% decline in the price of crude oil.
These variations in crude oil prices reflect the ongoing dynamics in international energy markets, influenced by factors such as supply and demand, the geopolitical situation and the oil production policies of the producing countries. lInvestors and analysts continue to pay attention to these movements in search of opportunities and risks in the energy sector.
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.
