Oil futures closed lower on Tuesday, the 6th, in a session marked by few drivers, but with a generalized fall in several risk assets, in a scenario that worsened in the afternoon, amid fears about the weakness of global growth .
Also on the radar were the possible easing of measures against Covid-19 in China and the repercussions on the price ceiling for Russian oil. Still, the appreciation of the dollar also guided business in this session, as the commodity is traded in the American currency.
On the New York Mercantile Exchange (Nymex), WTI oil for January closed down 3.48% (US$2.68), at US$74.25 a barrel, while Brent for February, traded on the Intercontinental Exchange ( ICE), fell 4.03% ($3.33) to settle at $79.35 a barrel. It is the first time since January that Brent crude has closed below $80.
On investors’ radar is the news of Reuters that China could announce on Wednesday ten new relaxation measures in anti-covid policies, a positive driver for the commodity.
Earlier, Russian Deputy Foreign Minister Sergey Ryabkov told the news agency Tass that Russian oil would find its buyers. The comment was made one day after the European Union began to impose a ceiling on the price of oil in the country, at US$ 60 a barrel.
The ceiling even caused this Tuesday a traffic jam of more than a dozen oil tankers, which were stranded in the Turkish Strait, the result of a dispute between a group of maritime insurers and Turkish authorities.
For now, according to sources Dow Jones Newswiresthe problem is not big enough to affect the broader oil markets, but if the problem is not resolved, the blockade could increase oil prices and shipping rates.
This Tuesday, the US Department of Energy (DoE) forecast in its monthly report that Brent oil will trade at an average of US$ 92 a barrel in 2023, US$ 3 less than it had forecast in the last month.
Still, global inventories would drop by 200,000 barrels per day (bpd) in the first half, before rising by nearly 700,000 bpd in the second half of 2023, according to that projection.
*With information from Dow Jones Newswires
Source: CNN Brasil
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