2023-09-19 07:31:00
Oil prices rose for the fourth consecutive day on Tuesday, amid concerns about the tightness of the market. This could further push up fuel prices, already under pressure following production cuts in Saudi Arabia and Russia and which recently reached their highest level in ten months in Belgium.
The price of a barrel of American WTI oil (159 liters) increased by more than 1%, reaching $92.50 on Tuesday morning. That of Brent, the benchmark for oil from Europe, the Middle East and Africa, is currently paid more than 95 dollars, or 0.7% more than the day before. Since Saudi Arabia and Russia announced production cuts in June, prices have increased by more than 30%.
With the tightening of the market, Mike Wirth, the boss of the American oil group Chevron, expects that the prices of black gold will continue to increase to reach 100 dollars per barrel. This threatens to reignite inflation, making it more difficult for central banks to attempt to combat it through interest rate hikes.
Last week, both the price of diesel (B7) and that of gasoline 95 (E10) reached their highest level in ten months in Belgium.
1695203640
#Fuel #Prices #Rise #Heres