13 C
New York
Thursday, September 29, 2022
More

    Don't miss

    Oil seesaw: barrel price rises as US fuel inventory drops

    - Advertisement -
    Oil prices rise again despite US fuel deflation (Image: REUTERS/Sergio Moraes)

    The price of a barrel of oil advanced again in the last hours of this Wednesday’s trading session (10), reflecting a greater-than-expected drop in gasoline inventories and an increase in refinery utilization. The data are from the United States government energy agency.

    The announcement that alludes to a residual recovery in demand managed to neutralize the downward trend that prevailed during the first half of the trading session, after inflation data indicated widespread deflation of fuels.

    - Advertisement -

    Around 16:30, WTI and Brent advanced, in that order, 1.28% and 0.91%.

    Oil companies have recovered and show progress

    The effect of the oil price spike was not translated evenly among the oil giants, having a more concentrated effect on American companies.

    - Advertisement -

    At the close of the London market, British Shell (SHEL) and British Petroleum (BP) fell – 0.69% and -0.31%, respectively. Petrobras (PETR4) drops 0.51%, following British peers.

    American companies Chevron (CVX) and ExxonMobil (XOM) have moderate increases of 0.14% and 0.98%, respectively.

    Join the Money Times group on Telegram!

    You access the news in real time and can still participate in discussions related to the main topics in Brazil and the world. Join our group on Telegram now!

    Source: Moneytimes

    - Advertisement -
    spot_img

    Latest Posts

    spot_img

    Latest