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Oil: WTI takes 5% in an optimistic market

08/12/2021
Categories: Raw materials

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The Omicron risk weighs less on the markets and the WTI takes 5%. In general, oil prices continued to climb on Tuesday.

               

WTI appreciating for a moment by more than 5%, at a time when investors consider the risk of the Covid-19 variant on future demand for black gold to be less acute. Around 4:10 p.m. GMT (5:10 p.m. in Paris), the price of a barrel of West Texas Intermediate (WTI) for delivery in January gained 4.40% to 72.55 dollars, shortly after touching 73.03 dollars, when that of Brent for February advanced 3.89% to 75.92 dollars.

The two benchmark contracts are appreciated in a broader context of renewed optimism on markets relieved by the first indications on the level of danger, lower than feared, of the Omicron variant. The price of Brent temporarily rose above the $75 mark on Tuesday for the first time since November 29, but still remains far from the $83 reached a few days earlier, before the detection of the new variant.

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