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Vienna (APA) – The price of US oil has not recovered very well Wednesday late in the European session after a black wake. At 5 pm, a barrel of 159 liters of West Texas Intermediate (WTI) crude oil cost $ 66.73, or 0.45% more than Tuesday. The future on a barrel of North Sea Brent was traded at $ 76.46.
Meanwhile, the price of Brent dropped to $ 75.11, the lowest level in about two months. Just the day before, it sank by more than four percent.
Official data from US government shippers probably tarnished the mood of commodities traders in the afternoon. Because crude oil inventories rose by 6.3 million barrels over the previous week to reach 422.8 million barrels. Only an increase of 3.7 million barrels was expected. An increasing supply generally weighs on oil prices.
This raises concerns about demand. Although foreseeable bottlenecks in the oil-producing countries of Venezuela and Iran give some impetus to the price, the recent statements by the Saudi Oil Minister, Khalid Al-Falih, overshadow this effect. He said his country would compensate for any supply shortages resulting from the economic sanctions taken by the United States against Iran.
According to Al-Falih, the Saudi oil giant could supply daily up to two million barrels. In addition, Pakistan, a financially troubled country in the field of nuclear energy in Saudi Arabia, grants a one – year payment period for the import of oil from Saudi Arabia. a maximum of $ 3 billion.
Wednesday afternoon, the price of gold in London rose to $ 1,231.20, barely the closing price of Tuesday at $ 1,230.94.
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