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Oil market: Better prospects for both contracts

26/08/2021
Categories: Raw materials

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WTI and Brent are boosted by better demand prospects. Oil prices were up again on Tuesday.

In the aftermath of a rebound of more than 5%, the outlook for demand for black gold is improving. At around 09:40 GMT (11:40 CET), a barrel of Brent North Sea oil for October delivery was worth $69.59 in London, up 1.22% from the previous day's close. In New York, the American barrel of WTI for the same month advanced at the same time by 1.02% to 66.31 dollars. The day before, the two benchmark contracts on both sides of the Atlantic garnered more than 5%, driven in particular by the announcement by China of the absence of new cases of Covid-19 of local origin on his ground. The fall in the dollar, which last week reached a 10-month high against the euro, played for black gold, quoted in the American currency.

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