The price of a barrel of Texas oil closes the year 55% higher

The Texas intermediate oil price (WTI) closed this Friday with a decrease of 2.3% and stood at US$75,21. But nevertheless, ends the year with a revaluation of 55%.

According to data at the end of the operations in the New York Mercantile Exchange, the futures contracts of the intermediate price of oil of Texas, for the delivery in February, subtracted US $ 1.78 from the previous session.

Likewise, Texas oil fell after seven consecutive sessions in positive. However, the cumulative rise of 55% places 2021 as the best year for these futures since 2009, experts say.

CAN SEE

Just in the last month, the Texas intermediate oil price it has risen 13.7% and in the week ending 1.9%.

Market situation

In this day of little volume and news, investors have taken the opportunity to collect benefits while they observe the evolution of the pandemic in the Christmas season.

Inventory data from the United States, which fell last week amid the rebound in COVID-19 cases, has helped allay fears about a reduction in energy demand.

However, the market continues with concern the sharp rise in infections which is affecting some services, including flights, with thousands of cancellations this week in the US.

CAN SEE

On the other hand, the market is aware of the OPEC meeting next week (whose purpose is to coordinate and unify the oil policies of its member countries and ensure the stabilization of oil markets for the benefit of consumers), in which the producer alliance will review its policy of gradual increase in supply.

On the other hand, natural gas for delivery in February totaled 17 cents, up to US $ 3.73 per thousand cubic feet, and the contracts for gasoline maturing in January fell 7 cents to $ 2.23 a gallon.

EFE source