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Oil: Prices are on the rise again

17/09/2021
Categories: Raw materials

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While the Gulf of Mexico keeps the market's attention, Oil ends strong. Oil prices recovered, slightly, at the end of Thursday's session.

The market is pricing in lower than expected supply due to continued disruptions at Gulf of Mexico facilities. After falling back to $74.48 (-1.29% from the previous day's close), a barrel of Brent North Sea oil for November delivery rebounded a few minutes before the close, to end up 0.27% or 21 cents, at $75.67. Same trajectory for the barrel of American WTI for the contract expiring in October, which had dropped up to 1.48% during the session but ended up in perfect balance, at 72.61 dollars. On Wednesday, Brent had thus reached 76.13 dollars and WTI 73.14 dollars, the highest since the beginning of August.

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