New York, December 7 (.). The exchange rate opened this Tuesday with a rise of 2.37% and amounted to 71.14 dollars per barrel, supported once again by better prospects for demand.
At 9:06 am local time (13:06 GMT) on the New York Mercantile Exchange (Nymex), West Texas Intermediate crude futures for January delivery totaled $1.65 compared to the previous close.
US crude rose about 5% yesterday, recovering from last week’s loss in value caused by fears of the coronavirus omicron variable and its impact on the economy and energy demand.
That fear has begun to subside since the beginning of this week, spurring stock markets and pushing Texas futures prices above $70, although analysts remain cautious.
Louise Dixon of Rystad Energy noted that “the positive market reaction may be based more on hope than on expectations of quantifiable demand,” as the information available remains limited.
Other bullish factors include the rise in Saudi sales prices, which is a sign of optimism, and the stagnation of nuclear talks between the United States and Iran, which means the continuation of sanctions.
This Tuesday also affected positive data on GDP growth and consumption in Europe in the third quarter, and another on China’s imports of crude, which may point to a recovery in refinery activity.
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