The volatility around the oil price continues.
Since the Russian invasion of Ukraine began (February 24) the price of barrels of crude oil rose to triple figures and is expected to prevail in such a way during the next few months.
For this Wednesday, May 4, the prices of the Barrels of Brent and West Texas Intermediate (WTI) crude soared more than three percent.
The rise occurs in the middle of a day in which the European Union has plans to gradually reduce imports of Russian oil and offset demand for crude oil in China, the world’s leading oil importer.
“Russian oil is now ‘bad oil.’ This energy war of ‘good oil’ versus ‘bad oil’ has only just begun.” said Bjarne Schieldrop, chief commodity analyst at SEBaccording to information collected by Television newscasts.
In addition to this, investors are at the awaiting the announcement of the monetary policy of the Federal Reserve of USA (Fed), with which an increase in the interest rates of up to 50 basis points.
Prices of a barrel of Brent and Texas oil today, May 4: how much does it cost and how much is it quoted?
According to the most recent report of Oil Price Chartsrecognized website with more than 150 oil indices and mixtures worldwide, For the morning of this Wednesday, May 4, a barrel of West Texas Intermediate oil is at $107.06 dollars, while a barrel of Brent crude oil is at $109.45 dollars.
The cost of oil had a increase of just over three percent, because the price of it during yesterday, at approximately the same time, was $104.73 dollars for WTI and $107.11 dollars for Brent.
