Oil: Brent at nearly 85 USD
Oil prices started the week lower on Monday March 6, with investors becoming more skeptical of a strong economic recovery in China following the country’s growth forecast was weaker than expected.
>> The barrel of Brent lost 0.28% to 85.14 USD
>> Oil declines, uncertainties for the global economy
>> Oil: Brent closes at 83.89 USD
| A barrel of Brent North Sea oil for April delivery fell 1.21% to $83.05. |
| Photo: AFP/VNA/CVN |
In the morning, a barrel of Brent from the North Sea for delivery in May lost 1.17%, to 84.83 USD. The barrel of American West Texas Intermediate (WTI), for delivery in April, yielded 1.19%, to 78.73 USD.
China will aim for economic growth “regarding 5%” in 2023, according to a government work report published Sunday, March 4 at the opening of the annual session of the Chinese Parliament.
Brent thus climbed by more than 3% last week, and the American WTI by more than 4%. “However, given the sharp rises in global GDP growth forecasts and the rebound from China’s reopening, oil prices are on the rise.” and should “stay high”, according to an analyst.
APS/VNA/CVN