Texas oil opens with a strong rise and a barrel is placed at US $ 86.83

OilPetroleum

Oil price is pressured by the conflict between Russia and Ukraine

The price of Texas intermediate oil (WTI) opened this Wednesday with a rise of 1.44%, and is placed at 86.83 dollars a barrel, pressured by the conflict between Russia and Ukraine. At 9.05 local time (14.05 GMT) on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in March totaled 1.23 dollars compared to the previous close. The US, Joe Biden, said that he is considering imposing sanctions on Russian President Vladimir Putin if he decides to invade Ukraine. According to analyst Craig Erlam, from the Oanda firm, the dynamics between energy supply and demand continue to favor a rise in prices , and the risk of conflict in Ukraine adds to that trend. "Oil and gas are unlikely to be used as a weapon but if that were to happen, it could lead to serious price increases given the current tightening of markets." , he added. The market is also aware of the geopolitical problems in the Middle East, since last Monday the Houthi rebels of Yemen launched a missile attack against the infrastructure of the United Arab Emirates. At the domestic level of the US, investors today expect news on the interest rates by the Federal Reserve, which concludes its two-day meeting on monetary policy. The Government will release this afternoon the latest data on crude oil inventories, which are at their lowest level for this time of year since 2012, and the employers of the sector have estimated another weekly fall.