wti

The price of Texas intermediate oil (WTI) opened this Wednesday with a drop of 1.70%, reaching $82.05 a barrel, while investors await the next announcements from the Reserva Federal (Fed) of USA.

At 9:00 a.m. local time (2:00 p.m. GMT), WTI futures contracts for delivery in April were down $1.42 from the close of the previous session.

Oil continued its rally in recent days on Tuesday, with WTI hitting a new high since November by closing above $83 a barrel.

“The key bullish catalyst for Tuesday’s rally was news that recent drone attacks on Russian refineries by Ukrainian forces could lead to cuts in crude oil production in the order of 7%.” “total Russian production”indicated Tom Essaye, informing ‘The Sevens Report’.

On Wednesday, investors will be watching the Fed, which will announce its interest rate decision and offer its latest macroeconomic forecasts at the end of a two-day meeting of its members. Federal Open Market Committee.

Investors will also be keeping an eye on official data on the company’s reserves. US Energy Information Administration, which will be published this Wednesday. EFE (I)

The price of Texas intermediate oil (WTI) It opened this Monday with a decrease of 0.21%, to $77.85 a barrel.

At 9:01 local time (14:04 GMT), WTI futures contracts for delivery in April lost 16 cents compared to the close of the previous session.

Last week, Texas lost a hefty 2.4%, once again moving away from the $80 barrier, given the data from Chinawhich indicate weak demand, and comments from the International Energy Agency that the market will be well supplied in the current year.

This week new data is expected from both the Agency and the Organization of Petroleum Exporting Countrieson Thursday and Tuesday, respectively, which can influence the course of crude oil.

Geopolitical arguments seem to have lost weight in recent weeks, as the war in Gaza and it does not seem that the month of Ramadan – which began on Sunday or begins this Monday, depending on the countries of the Muslim world – is going to bring the long-awaited truce. EFE (I)