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Oil: Prices continued to climb

07/01/2022
Categories: Raw materials

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Oil, up for four days, continues its upward momentum. Oil prices continued to climb Friday morning.

Fears of an escalating social crisis in OPEC+ member Kazakhstan, as well as a still tense situation in Libya, supported prices in a market already concerned about a shortfall in supply. Around 7:40 a.m., a barrel of Brent from the North Sea for delivery in March, the most traded contract in London, gained 0.91% to 82.74 dollars, after having already jumped the day before from 1.47% to 81, $99. Within a week, it climbed 6.18%. In New York, the barrel of West Texas Intermediate (WTI), for delivery in February, took 0.82% to 80.28 dollars, again exceeding the 80 dollar mark crossed for the last time a month and a half ago. . It closed Thursday up 2.06% to $79.46.

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