Monday, January 30, 2023

Brent and Texas Oil barrel prices today, January 11: how much is it and how much is it trading for?

Oil rises.

For this Wednesday, January 11, Brent and West Texas Intermediate (WTI, for its short form in English) prices rose with a significant upward trend Contrary to the figures shown the day before, On Tuesday, January 10th.

The price of barrel crude is rising The result of optimism in the markets about the demand outlook in Chinasimilar to compensation Increase in US crude oil reserves.

China is the world’s largest oil importer, It reopened its borders last weekend after three years of closure due to the Covid-19 pandemic (2020). it’s time to reopen for the days before the holiday season Chinese New YearAlso known as lunar year. In fact, many companies Bought a cargo of US crude ahead of the holiday periodwhat is expected Better consumption of crude oil when demand increases.

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Brent and Texas Oil Barrel Prices Today, January 11: How Much Is It Costing and How Much Is It Trading For?

As per the latest update of oil price chartA well-known website with over 150 global oil indices and blends, A barrel of Brent crude is trading at $82.50 this Wednesday, January 11, while WTI is at $77.40.

both referential They increased by almost two percent compared to the figures recorded yesterday, Around the same time (12:50 PM ET); when A barrel of Brent was trading at $80.20, while the US counterpart, West Texas Intermediate, was at $75.31.

Nation World News Desk
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