The price of intermediate oil from Texas (WTI) closed this Monday 14 with a strong rise of 2.5% and stood at US $ 95.46, its highest level since 2014, pressured by the risk of an attack by Russia to Ukraine in the next few days.
According to data at the end of operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in March totaled US$2.36 compared to the close of the previous session.
US oil continued to rise sharply after the White House warned of a possible Russian invasion of Ukraine on Friday, raising concerns in the energy market about oil and gas supplies.
“The oil market is very tight and geopolitical tensions over Ukraine have energy traders expecting a move in crude prices above the $100 level,” said analyst Ed Moya of Oanda.
Tensions between Kiev and Moscow have increased since last November, after Russia stationed more than 100,000 troops near the border, which triggered alarms in Ukraine and the West, which denounced the preparations for an invasion.
The United States insisted that a Russian attack may be “imminent”, while the United States denied planning an invasion and argued that it has the sovereign right to station troops anywhere on its territory.
On the other hand, the expert pointed to the growing demand for crude as the economy recovers from the pandemic crisis while supply remains limited and OPEC+ has difficulty meeting its production forecasts.
Nuclear talks with Iran remain a bearish factor, along with the prospect that the Federal Reserve will soon tighten monetary policy to control inflation, which posted its biggest rise in 40 years in January.
Meanwhile, natural gas contracts for March delivery rose more than 25 cents to $4.20 per 1,000 cubic feet, and gasoline contracts due the same month added four cents to $2. .78 the gallon.
Brent price
For its part, the price of a barrel of Brent oil for delivery in April ended this Monday in the London futures market at US$ 96.48, 2.12% more than at the end of the previous session.
North Sea crude, a benchmark in Europe, ended the day on the International Exchange Futures with an increase of US$2 compared to the last trade, when it closed at US$94.48.
The Brent price rebounded at the end of a volatile day in which the market’s attention also remained on the escalation of tension around Ukraine due to the possibility of a conflict with Russia.
With information from EFE and AFP.
Source: Larepublica
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