Oil falls due to rumors of use of reserves in the United States

The oil prices fell on Friday due to rumors of the use of strategic reserves on USA to lower the crude.

The barrel of North Sea Brent for January delivery it lost 0.92% to $ 82.17 in London on Thursday’s close.

While in New York the barrel of West Texas Intermediate (WTI) for December it lost 0.98%, to 80.79 dollars.

In the week, the two contracts yielded slightly.

The operators had in mind a possible intervention of USA about they strategic reserves to respond to the insufficient supply of crude.

The potential release of a part of those Bookings (SPR) “puts a heavy roof on WTI,” says Exinity’s Han Tan.

For John Kilduff, of Again Capital, to achieve its objective, such an initiative should be taken “in coordination” with other countries to be effective.

Thursday the OPEC also revised down its estimate of the growth of the oil demand for this year.

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Reference-www.eleconomista.com.mx

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