Closing course: Oil prices rebounded on Wednesday, helped by the lower decline than expected American crude crude stocks and by a satisfactory petrol demand in the United States, according to analysts.
The price of a barrel of Brent BRENT Brent or crude northern sea, is a variation of crude oil acting as a reference in Europe, listed on the intercontinentalelexchange (ICE), a stock market specialized in energy trading. It has become the first international standard for setting oil prices. from the North Sea, for delivery in August, resumed 0,80% has 67,68 dollars.
Its American equivalent, the barrel of West Texas Intermediate, for delivery the same month, won 0,85% has 64,92 dollars.
“It is obvious that the report of the American agency on energy (EIA) on stocks was well received by the market (…) which caused an increase“Courses, comments with AFP Robert Yawger, of Mizuho USA.
Oil trade stocks in the United States last week has recorded a more marked decline than expected for the fifth week in a row.
These reserves have decreased by 5.8 million barrelswhile analysts provided for a decrease of approximately 1.1 million barrelsaccording to the median of a consensus established by the Bloomberg agency.
The American Petroleum Institute (API) report published Tuesday evening – even if it is deemed less reliable than that of the EIA – also showed a considerable drop in stocks.
In addition, the EIA report has shown “A good figure for petrol demand for this time of yearSouligne M. Yawger.
The refined products delivered on the market, given considered as an implicit indicator of demand, have increased very slightly (+0,60%) last week, the petrol category being at the top of the bow (+4,18%).
“The market was looking for any reason to bounce back“, nuance however Mr. Yawger.
At the beginning of the week, the courses of black gold collapsed following American strikes targeting nuclear installations in Iran, the market seeming to dismiss the hypothesis of a blockage by Tehran of the Strait of Ormuz, where 20% world oil.
Consequently, the barrel of Brent BRENT Brent or crude northern sea, is a variation of crude oil acting as a reference in Europe, listed on the intercontinentalelexchange (ICE), a stock market specialized in energy trading. It has become the first international standard for setting oil prices. had lost more than 16% Of its value in two days, between the opening of the session on Monday and the end of Tuesday, returning to its levels preceding the triggering of the conflict.
On Wednesday also marks the second day of a fragile truce between Iran and Israel initiated by Donald Trump.
The president assured Wednesday that this truce “is going very well” more “Not everyone is 100% convinced that she will hold“, which could participate in the Haussier movement of the day, according to Mr. Yawger.
(C) AFP
Commenter Oil is speeding after the decline of American stocks
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