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Brent and West Texas Intermediate (WTI) contracts Start the day with a light brisk walk. both referential They were about one per cent higher than the figures registered during the close on Friday, January 6.
Increase in black gold contracts This is the result of various issues of economic conditionAs China’s borders reopening after more than three years of closure, as does a falling dollar.
Tomorrow, January 8th, China reopened its borders with Hong Kong. reopening comes later Three years of detention stemming from the coronavirus pandemic (2020). This gives hope to the country get millions of passengers through Chinese New YearAlso known as the Lunar New Year, which will ultimately increase the demand for fuel and hence the price of oil.
added to it, The dollar is trading lower on strong US jobs data. So it lowers the expectations. Another aggressive increase in interest rates by the country’s Federal Reserve (Fed). makes a weak dollar Goods denominated in that currency are more accessible to holders of other currencies, which increases demand and price.
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Brent and Texas Oil Barrel Prices Today, Jan 9: How much is it and how much is it trading for?
As per latest update of oil price chartRenowned website with over 150 oil blends and indices, A barrel of Brent crude for this Monday, January 9, is at $80.97, while US WTI is trading at $76.27.
both referential They rose about one percent compared to their close on January 6. when Brent was trading at $79.26 and West Texas Intermediate at $74.40.