Texas oil opens with a rise to $76.65 per barrel

Price from Oil intermediary of Texas (WTI) opened with an increase of 1.20%, to 76.65 dollars per barrel, but everything indicates that it will close this Friday with weekly losses.

At 9:00 local time (14:00 GMT), forward contracts WTI for December delivery totaled $0.91 compared to the previous day’s close.

This week the price of crude oil fell more than 5%, losses that add to a three-week losing streak.

In addition, investors were worried about the drop in demand United States and Chinaas well as the conflict in the Middle East.

NOW said on Thursday that Israel had agreed to allow daily four-hour “humanitarian breaks” in the north Loop for the departure of civilians.

For his part, yesterday the president in Federal Reserve (Fed), Jerome Powellhe said he was not sure the US regulator had raised interest rates enough to bring inflation down to the 2% target.

“The fact that Powell “Leaving further rate hikes has also reignited fears that the Federal Reserve will make a policy mistake at some point in the near future, catapulting the economy into recession,” Tom Essaye said in his report today. The Sevens Report.