Brent crude oil closes on Wednesday close to 85 dollars per barrel

Oil prices touched two-month highs on Wednesday due to tight supplies and a drop in inventories in the United States to a floor since 2018, along with the weakness of the dollar and an easing of concerns about the impact of the Omicron variant. of the coronavirus on demand.

US crude stocks fell while gasoline and distillate inventories rose, the government’s Energy Information Administration (EIA) said on Wednesday.

crude oil futures Brent rose 95 cents, 1.13%, at $84.67 a barrel, while West Texas Intermediate oil futures (WTI) from United States earned $1.42, 1.75%, at 82.64 dollars a barrel. Both contracts added their sixth session on the rise in the last eight.

The dollar fell to a two-month low against a basket of currencies after the publication of data on consumer prices in the United States, which soared in December.

The OPEC + countries still maintain cuts to their production of more than 3 million barrels per day, while sanctions on Iran limit their exports.

Although OPEC+ producers are raising their output targets every month, technical difficulties have prevented several countries from meeting their quotas.

Leave a Comment