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Oil: Prices accelerated their rise on Thursday

12/03/2021
Source : ORISHAS FINANCE
Categories: Sectors

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Faced with an optimistic market for gasoline demand, oil is moving forward. Prices accelerated their rise on Thursday.

Oil prices fueled by optimistic forecasts for global growth ended strongly. A barrel of North Sea Brent for delivery in May ended at $69.63, up 2.54% or $1.73 in London, from the previous day's close. In New York, the US barrel of WTI for April advanced 2.45%, or $1.58, to $66.02.
" Refineries are getting back up and running and will use more crude. At the same time, demand for crude is expected to accelerate "with the start of the travel season," said James Williams of WTRG Economics. According to the expert from WTRG Economics, the weekly report on U.S. crude inventories on Wednesday showed that gasoline inventories had fallen sharply.

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