- Oil prices rise on Friday and recover the ground lost in the previous one.
- WTI barrel returns to the $79.00 area.
- Dollar retreat and rise in stocks helps WTI.
The prices of Petroleum They are rising on the last day of the week after Thursday’s mishap, approaching weekly highs. Some positive expectations along with a weaker dollar and a rebound in equity markets are helping prices.
The WTI barrel (trading platforms) went as high as $79.30 before returning to the $79.00 area, where it is trading, with an intraday gain of 0.80%.
The expectation generated by a possible reopening of China is also creating fear due to the increase in infections. The risk is now that the Asian giant has to go back with the measures. Another of the risks at these times is the impact that winter storms may have on the US Reuters reported that Russia could reduce its production by up to 7% in early 2023 in response to price limits.
The WTI price is on track for its highest weekly close in three weeks, continuing its recovery from its lows in almost a year, which reached $70.25 in mid-December.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
