The WTI contracts for June added US$0.57 more compared to the last day on the New York Mercantile Exchange.
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This Monday, May 13, the price of Texas intermediate oil (WTI) opened with a rise of 0.73% and reached US$78.83 a barrel, in what would be the beginning of a week marked once again by the announcement of new energy market data.
During the early hours of the day, at the New York Mercantile Exchange, WTI futures contracts for delivery in June added US$0.57 more compared to the close of the previous sessionas mentioned by the EFE Agency.
However, the prospect of a reduction in interest rates by the Fed is becoming increasingly distant. This, in turn, means that the opportunity to stimulate WTI consumption and, therefore, its demand, becomes null.
According to a report by the Internationale Nederlanden Groep (ING), confusion over the production cut policies of the Organization of the Petroleum Exporting Countries (OPEC) is helping to keep prices without major increases, despite the initial objective that cuts would help raise them.
Journalist from the Peruvian University of Applied Sciences (UPC) with a major in Management and Leadership. She is editor of La República in the economics section for digital and print.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
