Trading in an uptrend after almost a full week, The contract prices for Brent and West Texas Intermediate (WTI) fell slightly The morning of this Thursday, November 22nd.
Energy market performance depends various economic issueslike G7 price cap on Russian fuel, production cuts by the Organization of the Petroleum Exporting Countries (OPEC+) and economic recovery in ChinaWhich is the world’s largest oil importer.
Since last November, OPEC+ announced an oil production cut of 2 million barrels per day, which has not translated into a significant increase in prices; while The cap on Russian oil by the G7 took place in early December. through this, Twenty-seven countries agreed to a cap of $60 per barrel for Russian crude transported by sea.
like that, Energy markets are aware of the situation in China, While the authorities eased sanitary restrictions associated with the Zero COVID policy, The same which slowed down the economic development of the country.
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Brent and Texas Oil Barrel Prices Today, December 22: How much is it worth and how much is it trading for?
As per the latest update of oil price chartWebsite with over 150 global oil blends and indices, A barrel of Brent crude for this Thursday, November 22, is trading at $80.88, while US WTI is at $77.21.
both referential They fell about one percent in relation to the data recorded yesterday, December 21, when A barrel of Brent was quoted at $82.05 and West Texas Intermediate at $78.18.