November 29, 2021

Sagebrush Rider

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Radio Havana Cuba | Crude oil prices fell weekly

Low oil prices. Photo: Archive

NEW YORK, Nov. 13 (RHC) Amid strong volatility caused by the appreciation of the dollar, oil prices in New York and London showed a slight decline this week, among key factors, operators said today.

Hydrocarbon prices hit both markets, sparking speculation as to whether the U.S. government would lower crude oil prices from its strategic presence.

A barrel of intermediate oil (WTI) in Texas ended at $ 80.79 in New York, while Brent in London was at $ 82.17.

Both WTI and Brent, benchmark crude for their respective markets, lost ground for the third week in a row, after months of continuous rallies in their scores, experts commented.

They acknowledged that one of the main reasons for the fall in weekly prices in both places was the increase in US crude oil reserves.

The revelation of these data was decisive in that session as the price of black gold in New York and London fell by more than two dollars.

The group released a report by the Organization of the Petroleum Exporting Countries, which said global demand for crude oil had slowed and impacted against rising prices. (Source: PL)

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