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Oil: A moderate price increase this Friday

04/03/2022
Categories: Raw materials

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Oil prices are moving below multi-year records posted the day before. They thus mark a pause in their progression on Friday.

The barrel of Brent and that of WTI remained close to the bar of 110 dollars, while the cap of 120 dollars was in sight on Thursday. This Friday around 8:40 a.m., the barrel of Brent from the North Sea, the benchmark for crude oil in Europe, was worth 111.66 dollars, an increase of 1.11%, after having already slowed down the previous evening, falling to 110, $46. Within a week and the start of the Russian army's invasion of Ukraine, Brent crude jumped 18.77%,

The approximately 150 liters of American West Texas Intermediate (WTI) were trading at 109.42 dollars, up 1.63%. The weekly increase was fixed for its part at 19.38%. Thursday night they were worth $107.67, having pushed as high as $116.57, a new high since September 2008.

For its part, natural gas fell, the Dutch TTF yielding 6.73% to 150 euros per megawatt hour (MWh). The International Energy Agency (IEA) believes that global energy security is at risk and its members are releasing some of their strategic oil reserves. The oil association OPEC+ is imperturbably pursuing its policy of gradually and moderately increasing production.

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