Oil prices remain volatile and They register a significant rise of more than three percent for this Wednesday, June 8.
The rise in Brent and West crude oil prices Texas Intermediate (WTI) arrive as a result of the easing of lockdowns in China over the latest coronavirus outbreak, as well as a possible strike in Norway by oil workers.
Recently, the United States began to increase its oil production, but even with this, It will not be enough to face the high demand that is coming with the relaxation of restrictions in China.
“Although the API (American Petroleum Institute) report showed increases in crude oil and oil products, crude oil prices are higher, backed by the expectation that China will ease restrictions by COVIDwhich translates into higher demand and imports this summer (boreal)”, said Giovanni Staunovo, analyst at UBSaccording to information collected by Television newscasts.
Prices of a barrel of Brent and Texas oil today, June 8: how much does it cost and how much is it quoted?
According to the most recent update of Oil Price Charts, renowned website with more than 150 oil indices and mixtures worldwide, For this Wednesday, June 8, the price of a barrel of Brent crude stands at $123.41 dollars, while the cost for the equivalent of the American WTI is at $122.92 dollars
Prices during the day yesterday, at approximately the same time (3:00 ET) they were $120.76 and $119.89 for Brent and West Texas Intermediate, respectively.