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Oil: Prices rose again on Tuesday

20/10/2021
Categories: Raw materials

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Led by speculators, oil is not giving up on Tuesday. The price of oil rose again on Tuesday, supported by speculators who ignored signs of a slowing economy around the world.

In New York, the barrel of West Texas Intermediate for delivery in November chained its fourth consecutive rising session to close at its highest level since October 13, 2014, seven years ago, at 82.96 dollars, up from 0.63% or 52 cents. As for the barrel of Brent from the North Sea for delivery in December, quoted in London, it gained 0.88% or 75 cents, to end at 85.08 dollars. Professionals will follow Wednesday the publication of the state of US crude stocks, expected to rise for the fourth consecutive week. So far, this continuous increase in the context of a shortage of supply has not made the market flinch. But for operators, the overall figure has consistently been misleading, affected by revisions and masking a more complex picture.

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