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Hydrocarbons: Oil continues to rise

19/08/2022
Categories: Raw materials

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On Thursday, oil prices rose for a second time, accelerated by opportunity buying, good news about American demand, and a certain skepticism about the imminence of an agreement on the Iranian nuclear programme.

In October, the price of a barrel of North Sea Brent for delivery rose 3.13%, closing at 96.59 dollars. In September, the American West Texas Intermediate (WTI) barrel price benefited 2.71%, reaching $90.50 with maturity.

After WTI's barrel closed Tuesday at its lowest level in nearly 7 months, before the invasion of Ukraine began, speculators who had bet& Eacute; falling on black gold have taken some profits and other operators have engaged again. According to figures released by the U.S. Energy Information Agency (EIA) on Wednesday, commercial crude oil reserves in the United States shrunk by 7.1 million barrels last week while analysts predicted a slight increase of 800,000 barrels.

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