- Fourth consecutive daily advance for oil prices.
- WTI reached its highest since the beginning of the month.
- Dollar mixed, Wall Street futures fall.
The prices of Petroleum they rise again more than 1% on Thursday thus extending the weekly gains. The inventory data and the arrival of winter storms in the US contribute to the rise.
The price of a barrel of WTI (trading platforms) is at $79.62, the new weekly maximum, after having started the week below $75.00. If the advance continues, the next barrier is the $80.00 area and then the focus will move to $81.50.
The weather in the US could create complications in production after the arrival of severe winter storms. On the other hand, data from the Energy Information Agency showed a drop of 5.89 million barrels in the week of December 16.
The optimism that is reflected in oil prices, at this time is not seen in the equity markets. Wall Street futures point to a negative opening with moderate falls. In turn, other raw materials are on neutral ground. The dollar operates mixed.
Several US economic reports will be released later Thursday, including the Chicago Fed Activity Index, a new third-quarter GDP growth estimate, the weekly jobless claims report and the manufacturing index. from the Kansas Fed.
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.
