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)
#Texas #oil #closes #USD
