2023-11-01 20:35:00
Closing price: Oil prices, in the green during the session, ended with a small decline on Wednesday following the weekly publication of the state of stocks in the United States and following the meeting of the American central bank (Fed). The barrel of Brent BRENT Brent, or North Sea crude, is a variation of crude oil serving as a benchmark in Europe, listed on the InterContinentalExchange (ICE), a stock exchange specializing in energy trading. It became the first international standard for setting oil prices. of the North Sea for delivery in January, which is the first day of use as a reference contract, lost 0.45% to 84.63 dollars.
Its American equivalent, the barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variation of crude oil that serves as a standard in setting the price of crude and as a raw material for oil futures contracts with the Nymex (New York Mercantile Exchange). ), the stock exchange specializing in energy.) for delivery the same month, lost 0.71% to 80.44 dollars, a new low in two months.
In the first part of the session, when prices rose, the market’s attention was focused “on the war in the Middle East and global economic signals”, comment analysts from Energi Danmark.
On the 26th day of the war between Israel and Hamas, the Israeli army announced Wednesday the death of 11 of its soldiers, the day before, in the “fierce fighting” which now pits it once morest the Palestinian Islamist movement in the middle of the ruins of the Gaza Strip.
“The risk premium that was taken into account following the outbreak of the war seems to be fading a little, as the market considers it increasingly unlikely that a major war involving Iran will break out,” tempers however analysts from Energi Danmark.
???????? Prices lost ground following the Fed press release. The central bank, as expected, announced an extension of its pause in interest rate increases, but it also insisted on its vigilance in relation to inflation. Jerome Powell, the institution’s president, “kept his options open,” noted Edward Moya of Oanda.
“By leaving rates unchanged while continuing to signal the possibility of a subsequent increase, the Fed is indicating that it remains in ‘we wait and see’ mode,” said Andrew Hunter of Capital Economics.
???? The dollar subsequently strengthened, which generally has a downward impact on black gold prices.
????️ In terms of weekly oil stocks, US crude reserves increased slightly by 0.8 million barrels to 421.9 million barrels. Analysts expected a jump of 1.8 million barrels.
Gasoline reserves remained stable, decreasing by only 100,000 barrels, almost what analysts had predicted.
(c) AFP
Comment Oil down slightly following stocks and the Fed
Community barrel price
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#Oil #slightly #stocks #Fed
