Tue. Jul 27th, 2021

Oil continues to rise and Brent surpasses $ 73 for the first time since April 2019. The price of a barrel of Brent oil, which is used as a reference in Europe, has exceeded 73 dollars this Monday , a figure that it had not registered since April 2019, thus maintaining the upward trend that has been registered since last year.

Specifically, Brent has registered an increase of 0.61% this Monday, reaching 73.13 dollars per barrel, the highest price observed since April 25, 2019. So far this year, the barrel of Crude oil has appreciated 41.2%.

The economic recovery is underway and the demand for fuels in full upward trend. Families take the car again to go to work and start catching airplanes to travel. All this happens while supply is somewhat restricted by OPEC production cuts, which will gradually fade away, so oil is expected to remain between $ 65 and $ 75 in the coming months.

West Texas goes up too
This same trend has also been observed in the price registered by the West Texas Intermediate (WTI), which this Monday has advanced by 0.54%, to 71.28 dollars per unit. In this way, the reference barrel for the United States has recovered price levels not seen since October 16, 2018, after having registered negative prices in April 2020 for the first time in its history.

Last Friday, the International Energy Agency (IEA) assured that global oil consumption will exceed the level prior to the covid-19 pandemic by the end of 2022 , although it warned that the recovery will be uneven not only between regions, but also also between sectors and products.

Oil continues to rise and Brent surpasses $ 73 for the first time since April 2019. The price of a barrel of Brent oil, which is used as a reference in Europe, has exceeded 73 dollars this Monday , a figure that it had not registered since April 2019, thus maintaining the upward trend that has been registered since last year.

Specifically, Brent has registered an increase of 0.61% this Monday, reaching 73.13 dollars per barrel, the highest price observed since April 25, 2019. So far this year, the barrel of Crude oil has appreciated 41.2%.

The economic recovery is underway and the demand for fuels in full upward trend. Families take the car again to go to work and start catching airplanes to travel. All this happens while supply is somewhat restricted by OPEC production cuts, which will gradually fade away, so oil is expected to remain between $ 65 and $ 75 in the coming months.

West Texas goes up too
This same trend has also been observed in the price registered by the West Texas Intermediate (WTI), which this Monday has advanced by 0.54%, to 71.28 dollars per unit. In this way, the reference barrel for the United States has recovered price levels not seen since October 16, 2018, after having registered negative prices in April 2020 for the first time in its history.

Last Friday, the International Energy Agency (IEA) assured that global oil consumption will exceed the level prior to the covid-19 pandemic by the end of 2022 , although it warned that the recovery will be uneven not only between regions, but also also between sectors and products.

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