Washington (dpa)
Posted on: Tuesday, December 13, 2022 – 12:19 AM | Last update: Tuesday 13 December 2022 – 12:20 AM
Oil futures ended Monday’s trading, sharply higher after falling over the past week, as concerns about stable supplies grew as a major pipeline carrying heavy crude from Canada to US refineries on the Gulf Coast of Mexico remained shut.
The price of West Texas Intermediate crude, which is the benchmark for US oil, rose today by 2.15%, or about 3%, to $73.17 per barrel for next January delivery. The price of Brent crude, the global oil benchmark, rose by $1.89, or 2.5%, to $77.99 per barrel for next February delivery.
At the same time, it is still not known when the operation of the Keystone pipeline will resume, which was suspended after more than 14,000 barrels of crude leaked from it last week.
Market participants are also awaiting the US inflation data for the past month, which will be published tomorrow, one day before the US Federal Reserve (Central Bank) announces its decision on interest rates next Wednesday.