2024-02-10 06:11:25
Oil market conditions: WTI oil closed positive, worried regarding tight oil supplies.
InfoQuest – West Texas crude oil (WTI) contracts in New York closed higher on Friday (Feb. 9) and rose regarding 6% this week. This was driven by concerns regarding oil supplies from the Middle East and production problems that have tightened the refined oil market.
The WTI crude oil contract is for delivery in March. rose 62 cents, or 0.81%, to close at $76.84/barrel. and rose 6.3% this week.
As for the Brent crude oil contract (BRENT), delivered in April. rose 56 cents, or 0.69%, to close at 82.19 dollars/barrel. and rose 6.3% this week as well.
Concerns regarding oil supplies from the Middle East have helped boost oil prices. The crude oil contract rose throughout this week. with support After Israeli Prime Minister Benjamin Netanyahu rejected a Hamas ceasefire offer on Wednesday (Feb. 7)
Israeli forces continued their airstrikes in Gaza on Friday. After that Thursday The bombing of the southern border city of Rafah was It has supported the price of oil to rise by regarding 3%.
Crude oil contracts were also supported by strength in gasoline and diesel prices. Due to the sharp decline in oil refining in the United States, the market for oil products is tight.
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