Adriana Arcos
Reform Agency
Monday, May 04, 2020 | 18:09
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Mexico City- The price of the Mexican mix started the week with a rise of 45.36 percent, reaching 18.17 dollars per barrel, its highest price in almost a month after last Friday the price was not known for the holiday of 1 of May.
International benchmarks, the West Texas Intermediate (WTI) of the United States and the Brent of the North European Sea closed on Monday with increases of 8.23 and 7.64 percent, at 20.39 and $ 27.20 per barrel, respectively.
Confidence at the beginning of this week in the oil market was related to the publication of an analysis report by Goldman Sachs in which it mentions that oil fundamentals are finally showing signs of improvement, probably accelerated due to the recent collapse in prices.
On the other hand, regarding the issue of greatest concern, the level of storage capacity indicated that supplies have begun to decrease with improvements in the level of demand and it is expected that the market equilibrium will follow three stages: relief, cyclical adjustment and finally structural adjustment.
Specialists believe that the price of WTI may reach up to $ 25 this month and it will be until the second quarter of this year when excess inventories are eliminated, which will leave oil behind the rebound of other financial assets such as equities.
So far this year, the price of the national mixture accumulates a drop of 67.63 percent, since it started 2020 at 56.14 dollars per barrel.
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