New York, April 8 (.). The price of oil rose by 2.08% this Friday, to $98.03 a barrel, comfortably recovering from the decline in the previous day and the following in its wake, which also closed higher, with a rise of 1.85%.
According to data collected at the close of operations on the New York Mercantile Exchange (Nymex), West Texas Intermediate crude futures for May delivery are up $2 compared to the previous close.
With this, oil ends the week below the psychological barrier of $ 100 as a result of analysts’ knowledge of the plans of the International Energy Agency, which announced on Wednesday to release 120 million barrels of crude oil from strategic reserves soon, of which 60 million correspond to the United States.
The announcement comes on the heels of the decision in the same direction, made by the International Energy Agency last Friday, to release more crude oil from its reserves to combat price volatility in the oil market caused by the Russian invasion of Ukraine, although the price was not detailed at the time. . . the size.
Just a day ago, US President Joe Biden ordered the release of a record amount of his country’s strategic oil reserves (one million barrels per day for the next six months).
“Beeraholic. Friend of animals everywhere. Evil web scholar. Zombie maven.”