Box Layout

HTML Layout
Backgroud Images
  • greenforest
  • greenforest
  • greenforest
  • greenforest
  • greenforest
  • greenforest
  • greenforest
  • greenforest
Backgroud Pattern
  • greenforest
  • greenforest
  • greenforest
  • greenforest
  • greenforest
  • greenforest
  • greenforest
  • greenforest
WTI Oil Falls to $85.26 Amid Fears of Russia Invading Ukraine
event-author-img-1

By: payless

WTI Oil Falls to $85.26 Amid Fears of Russia Invading Ukraine

The price of Texas intermediate oil (WTI) opened this Friday with a drop of 0.34%, to 85.26 dollars a barrel, momentarily losing the barrier of 86 dollars that it had recovered for the first time in years.

At 9:05 a.m. local time (2:05 p.m. GMT) on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in March — the new reference month — lost 29 cents compared to the previous close.

On Thursday, benchmark crude in the United States had dipped a slight 0.1% after reaching highs not seen since 2014, fueled by expectations that current production levels will fall short as demand recovers.

This Friday, many investors returned to bet on collecting accumulated profits, pushing prices down, also affected by an unexpected increase in oil inventories in the United States by 500,000 barrels last week, compared to the calculations of analysts who had anticipated a drop of 700,000, according to a survey by the firm S&P Global Platts.

The Ukraine factor

In recent days, prices had risen sharply, especially after the attack launched by Yemen's Houthi rebels against the United Arab Emirates - OPEC's third largest producer - and amid expectations that Russia would intervene militarily in Ukraine.

Markets had also been affected by the temporary suspension of service on the Kirkuk-Ceyhan oil pipeline between Iraq and Turkey, as a result of a fire, and news that the OPEC+ alliance is having difficulty meeting its production quotas due to unforeseen interruptions in the supply of some of its members, such as Libya or Kazakhstan. EFE

  • Tags:
  • new york stock market closing time

Related Articles

Types of Hats for Kids: The Perfect Hat for Every Occasion

When it comes to dressing up your kids, hats are a great way to add some personality and style. There are so many different types of hats for kids available on the market today, that it can be hard to...

The Ibex 35 rises 7.9% but ends 2021 as the stock market furthest behind in a year of market records

Just over 614 points, that has been the balance of the Ibex 35 in a year of significant gains for the stock markets of almost the entire world. Only Asian markets have done worse and only the mini-rally in...

The most desired exclusive Primark bag for winter and spring: only 10 euros

Brilliance is always synonymous with sumptuousness, and this is the main characteristic of one of the central pieces of the new collection of the favorite store of many in Jerez de la Frontera and throughout...

The sale of fruits and vegetables in plastic containers will be prohibited in Spain in 2023

The sale of fruit and vegetables in plastic containers will be prohibited in retail businesses (both neighborhood stores and supermarkets) in Spain from 2023. It is one of the measures that...