Oil price falls after strong rise in the previous week

Oil price falls after strong rise in the previous week

The price of oil fell this Monday, consolidating its position after a week of strong growth and paused due to expectations of a restart of the exports Iranians and the closure of refineries in Texas.

Thus, the price of a barrel of oil from the North Sea for delivery in April, the most traded in London, lost 0.62%, ending at US$ 92.69.

In New York, the barrel of West Texas Intermediate (WTI) for March yielded 1.07%, ending at US$ 91.32.

Prices were under pressure due to the interruption of the activity of three large refineries of Texas, connected to a cold wave in Houston (Valero), Pasadena (Chevron) and Galveston (Marathon), according to the AFP agency.

On Monday, Morgan Stanley analysts confirmed their forecast that Brent is headed for a price of $100 a barrel.

Source: Larepublica

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