The oil prices They rose to a two-week high on Tuesday after the United States lifted travel restrictions and other signs of a global recovery from the pandemic boosted the outlook for demand, when supply remains tight.
Prices rose after the United States Energy Information Administration (EIA), in its report on the short-term energy outlook, on Tuesday projected a decrease in the gasoline prices retail in the coming months.
President Joe Biden’s administration said it will use the report’s price forecasts to determine whether oil is released from the Strategic Petroleum Reserve (SPR) of the country.
Analysts said that if the EIA report had shown a large increase in projected gasoline prices, the Biden administration would likely release a lot of oil from the SPR quickly, which would have depressed prices.
Brent futures rose $ 1.35, or 1.62%, to $ 84.78 a barrel, while US crude West Texas Intermediate (WTI) gained $ 2.22, or 2.71%, at $ 84.15.
They were the highest closings of both benchmarks since October 26.
The price of Brent It has gained more than 60% this year and hit a three-year high of $ 86.70 on Oct. 25, supported by recovery in demand and tight supply from the Organization of the Petroleum Exporting Countries and its allies.
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Reference-www.eleconomista.com.mx