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Oil: The IEA foresees a respite in prices

17/11/2021
Categories: Raw materials

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The International Energy Agency (IEA) believes that the recent surge in prices could experience a “respite”. In the meantime, prices rebounded slightly on Tuesday in a market still worried about seeing demand exceed supply.

In its monthly report, the IEA notes Tuesday that production is picking up in the United States, pulling up global extractions. Crude prices remain close to their peaks reached at the end of October, and are still up nearly 60% for Brent and more than 65% for WTI since the start of the year. Around 10:45 a.m. GMT (11:45 a.m. CET), the price of a barrel of Brent from the North Sea for delivery in January gained 0.38%, to 82.36 dollars. In New York, the barrel of West Texas Intermediate (WTI) for the month.

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