Corona situation dampens – oil prices move little

Date:

Oil prices were little moved in early trading on Thursday. A barrel (159 liters) of North Sea Brent cost 92.53 dollars (92.17 euros). That was twelve cents less than the day before. The corona situation in China and new storage data from the US are currently affecting the price.

For example, the strict virus policy of the Chinese leadership is a major economic burden. Following new corona outbreaks, further countermeasures now threaten, which would not only tax the world’s second largest economy, but also dampen the mood in the oil market.

There is also new save data from the US. As announced Wednesday afternoon, nationwide crude oil inventories have risen to their highest levels since mid-2021. As a rule, high inventories weigh on the price of crude oil as they indicate an oversupply.

This is already noticeable on Thursday morning. The price of a barrel of North Sea Brent has fallen 12 cents from the previous day and now stands at $92.53 (€92.17). The price of a barrel of the American variety West Texas Intermediate (WTI) also fell 18 cents to $85.65.

Source: Krone

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Accident on the mountain – Walker (50) fell 200 meters into death

A walker died in a fall on the loser...

This is surprising-this EU country rejects new sanctions in Russia

So far, Slovakia has approved all EU sanctions against...

Significantly injured – Fully braking: Bub (4) crashed into the bus against rod

The Innsbuct police are employed by a bus driver....

City and pen prepare against the god -tree

An ornamental plant that was once imported from Asia...