wti

The price of Texas intermediate oil (WTI) opened this Thursday with an increase of 0.31%, at $76.88 per barrel, in a week of little movement in the price

At 9:02 local time (14:02 GMT), WTI futures contracts for delivery in March added 24 cents compared to the close of the previous session, fluctuating in the previous minutes between green and red.

The factor that may weigh the most in these opening moments is the data known today about the International Energy Agency (IEA)which indicate that global oil demand will slow down this year, with a projected growth of 1.2 million barrels per day compared to an increase of 2.3 million in 2023.

Last year ended with an average demand of 101.8 million barrels per day and in 2024 it is expected to reach 103 million, the IEA said in its monthly report on the oil market.

This trend of lower demand growth this year follows the slowdown already recorded in the fourth quarter of last year.

But the downward pressure that the IEA forecasts may pose is offset to a certain extent by geopolitical tensions, according to the MarketWatch portal.

In Gaza, while everyone awaits the assault on the city of Rafah by Israelthe fighting also intensifies on the border between Israel y Lebanonwhere eleven Lebanese civilians were killed yesterday by Israeli fire, the highest number of victims in recent months in this area.

This border area is experiencing its highest peak of tension since 2006, with an intense exchange of fire for more than four months that has claimed the lives of at least 278 people, the majority on the Lebanese side and in the ranks of Hezbollah, which has confirmed some 199 casualties in its ranks, some of them in Syria. EFE (I)

The price of Texas intermediate oil (WTI) It closed this Tuesday with a rise of 1.23%, to $77.87 per barrel, thus continuing its upward trend.

At the close of trading on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in March added $0.95 compared to the previous day.

Investors today analyze the inflation data in USAwhich fell three tenths again in January, to 3.1%, a fall that is aligned with the objectives of the Reserva Federal (Fed) and its plans to start cutting rates at some point this year if prices continue to fall.

The United States Bureau of Labor Statistics reported this Tuesday that in monthly terms, consumer prices increased three tenths compared to December, while underlying inflation, a key data that the Fed analyzes to make its decisions on interest rates, decreased. remained at 3.9% in interannual terms.

Furthermore, according to the forecasts of the Organization of Petroleum Exporting Countries (OPEC)published this Tuesday, global demand for crude oil will grow at a good pace this year and in 2025, with consumption of China and transportation fuels are the ones that most drive this trend.

In its monthly report on the oil market, OPEC confirms its forecasts that demand will rise by 2.2% in 2024, totaling 104.4 million barrels per day (mbd), in what it describes as a consequence of the “robust economic growth expected for this year.

So far this year, WTI has risen more than $6, in part due to escalating tensions in middle East As attempts to reach a ceasefire agreement between Israel y Hamas fail, to which other fronts are added such as those opened in Lebanon, Yemen o Irak.

On the other hand, natural gas futures contracts for March subtracted 0.07 dollars, up to 1.68 dollars per thousand cubic feet, while those for gasoline expiring the same month added 0.02 dollars, up to 2.38 dollars. the gallon. EFE (I)

The price of Texas intermediate oil (WTI) It closed this Tuesday with a rise of 0.72%, at $73.31 per barrel, as investors analyze the effects that geopolitical tensions in the Middle East will have on the price of crude oil.

At the close of operations in the New York Mercantile Exchange (Nymex)WTI futures contracts for delivery in March added $0.53 compared to the previous session.

Last weekend, USA y United Kingdom launched a new wave of attacks against the Houthis in Yemen due to attacks on ships in the Red Sea.

The events between USA e Iran “They can keep supply risks elevated, which will translate into higher gains” for benchmark U.S. oil prices, he said. Lukman Otunugamarket analysis manager FXTMin statements collected by Market Watch.

«Geopolitical tensions are likely to keep the price of crude oil above $70»Add.

At the same time, the US Secretary of State, Antony Blinkenbegan on Sunday its fifth tour of the Middle East since the beginning of the conflict between Israel y Hamas which will last until Thursday and in which he will visit Saudi Arabia, Egypt, Qatar, Israel y West Bank.

After more than a week of negotiations and a hermetic consultation process on a framework agreement for a truce in Gaza, the Islamist group Hamas responded today “in a positive spirit” to the proposal, which will be studied tomorrow between Israel and Blinken.

“I would like to inform the media that we have received a response from Hamas regarding the general framework of the hostage agreement. The response includes some comments, but is generally positive.”said the Foreign Minister of Qatar, Mohamed bin Abderrahmanat a press conference in Doha alongside Blinken.

On the other hand, natural gas futures contracts for March subtracted $0.073, up to $2.009 per thousand cubic feet, while those for gasoline expiring in the same month added $0.008, up to $2.21 per gallon. EFE (I)