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Oil: Prices rebound after three days of "twitching"

12/07/2021
Categories: Raw materials

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The barrel of Brent from the North Sea for delivery in September clearly reflects this return to the upward trend in prices. The prices of black gold regained color this weekend, after having lost almost 3 dollars in two days. Black gold prices are rebounding due to the dithering around the aborted meeting of OPEC members and their OPEC+ allies. The barrel of Brent posted 75.59 dollars (9:30 GMT), up 1.98%. West Texas (WTI) reached 74.63 dollars, with an increase of 2.32%, at the reference time. This confidence regained by the markets is partly due to the drop in American inventories. Crude stocks plunged 6.9 million barrels (MB), to 445.5 MB, for the week ended July 2, according to the weekly report from the US Energy Information Agency (EIA). .

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