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Oil: Prices started the week in the green

30/03/2021
Source : ORISHAS FINANCE
Categories: Sectors

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Despite the reopening of the Suez Canal, oil prices started the week in the green. WTI gained 1% on Monday.

After the container ship that clogged the Suez Canal was refloated, the return to normal will take several days. Because, more than 400 ships are waiting for a passage on both sides of the canal.
On Monday evening, the May futures contract on the barrel of WTI crude oil gained 1% to $ 61.56 on the Nymex, while the barrel of Brent due May advanced 0.6% to $ 64.98. Last week, very volatile, had resulted in a gain of 0.9% for WTI, while Brent had stalled.
Markets are also speculating on Thursday's monthly OPEC+ meeting to decide whether the group of oil-producing countries will increase production in May, or continue its current policy of restraint, given uncertainties about oil demand linked to the resurgence of the coronavirus epidemic, especially in Europe.

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