Wednesday, January 19

Oil soared due to a Saudi measure and less fear for Omicron


The price of a barrel of North Sea Brent for delivery in February it gained 4.6% in London at $ 73.08.

While in New York the West Texas Intermediate (WTI) barrel for January closed 4.9% higher at $ 69.49.

“Traders recovered from the initial panic” after the discovery of Ómicron “and correct prices upwards as cases appear to be (with symptoms) moderate”Louise Dickson of Rystad Energy commented in a note.

“We are below some technical levels” of prices, added Stephen Schork, analyst and author of the Schork Report.

Another driver of this rise was the decision of the Saudi oil group Aramco to raise, in January, all its sales prices for barrels exported to Asia and the United States, between 30 and 80 cents per unit según S&P Global Platts.

Meanwhile, the Saudi giant is going to lower prices for Europe and the Mediterranean.



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