The prices of Petroleum international had a slight takeoff this Monday thanks to the demand for fuel in the United States, the little supply and a slightly weaker dollar.
For its part, China is getting ready to reopen its borders after a confinement that lasted two months and that contributed to concerns about a marked slowdown in growth.
In this line, West Texas Intermediate barrel futures in the United States (WTI) improved US$1.33, or 1.21%, to US$111.58, adding to the small gains of both contracts last week, as reported by Reuters.
Meanwhile, Brent crude futures were up $1.49, or 1.32%, at $114.04 a barrel.
“Oil prices are supported by the fact that gasoline markets remain tight amid strong demand ahead of the peak US travel season,” said Stephen Innes of SPI Asset Management.
“Refineries are in throttle mode to feed the insatiable thirst of American drivers at the pump,” he added.
It should be noted that peak travel season in the United States traditionally begins on Remembrance Day weekend in late May and ends on Labor Day in September.
Analysts noted that despite fears that rising fuel prices could dampen demand, mobility data from TomTom and Google had risen in recent weeks, showing more people were on the roads in places like the United States. Joined.
Source: Larepublica
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