The price of texas intermediate oil (WTI) rose 8.4% this Thursday, March 17, to 102.98 dollars per barrel, after a new fear of a prolonged conflict in Ukraine after the Kremlin refused to suspend its offensive, which could affect supplies from the black gold
The data of the New York Mercantile Exchange (nymex), at the end of operations, reported that WTI futures contracts for delivery in April totaled 7.94 dollars compared to the previous settlement.
The sharp rise comes after several consecutive days of declines favored by information that pointed to progress in negotiations between the Russian and Ukrainian authorities.
Besides, the International Energy Agency (IEA) warned yesterday that there is a risk of an oil crisis starting in the spring due to the Russian invasion in Ukraine and put pressure on OPEC, which until now has not shown a willingness to compensate the losses of Russian crude in the market.
In its monthly report, the IEA assumes that as of April three of the eight million barrels per day exported by Russia will disappear.
On the other hand, a barrel of Brent from the North Sea for delivery in May ended up 8.79% at $106.64 in London.
Source: Larepublica
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