AAt 12:30 pm in Lisbon, a barrel of Brent for delivery in May was priced at 85.78 dollars on the Intercontinental Exchange Futures (ICE) in London, 0.52% more than on Friday and after having reached today be traded at 86.29 dollars.
The barrel of West Texas Intermediate (WTI) crude oil, the most used in the North American market, also reached November levels today, as it was traded today at 81.58 dollars.
ActivTrades Europe executive director Ricardo Evangelista says that “supply concerns were exacerbated over the weekend following additional attacks on Russian refineries, resulting in an estimated 7% reduction in the country’s production.”
“On the other hand, demand forecasts were revised upwards, supported by expectations of lower interest rates in the US in the first half of the year and a global economic recovery”, he adds, in an analysis of the rise in oil prices.
Ricardo Evangelista estimates that taking into account that the International Energy Agency now predicts a supply deficit in 2024, the price of a barrel should remain high, with this week’s Fed meeting taking center stage.
“Any indication of a potential rate cut in the first half of the year could boost prices even further,” predicts Evangelista.
As for Ttf natural gas, it was being traded at 28.64 euros per megawatt-hour, 4.15% more than at the end of Friday’s session.
This development follows the 4% rise in Brent oil last week and the 7% rise in Chinese industrial production last February, when Chinese unemployment increased by two tenths of a percentage point, coinciding with the New Year.
Retail sales in China fell almost two points to 5.5%.
[Notícia atualizada às 14h39]
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