Oil prices fell slightly on Thursday, December 29, 2022, while the price of European gas rebounded after falling to its lowest level since the Russian invasion of Ukraine. The Covid-19 wave in China is weighing on demand prospects.

The barrel of Brent from the North Sea for delivery in February ended down 1.20% to $82.26, while the barrel of West Texas Intermediate (WTI), its American equivalent for delivery in the same month, fell 0.70% to $78.40. After the publication of weekly US oil stocks, which rose while analysts expected them to fall, prices, which were much lower in the morning (-1.80% for WTI), regained ground.

These commercial reserves increased by 700,000 barrels durant during the week ending 23 D& December, when analysts expected a decrease of 1.2 million. On the natural gas side, the European benchmark, the Dutch TTF contract for delivery the following month, closed at 83.80 euros per megawatt hour.