Around 11:10 a.m., Brent lost 0.18% to $76.37. Its American equivalent, a barrel of West Texas Intermediate, fell 0.19% to $73.82.
Oil prices are stable on Monday, delaying last week’s rise in prices, with a particularly cold January expected in the United States, the cessation of Russian gas transit through Ukraine and Chinese economic recovery.
Around 10:10 a.m. GMT (11:10 a.m. CET), the price of a barrel of Brent from the North Sea, for delivery in March, lost 0.18% to $76.37.
Its American equivalent, a barrel of West Texas Intermediate, for delivery in February, fell 0.19% to $73.82.
“Uncertainty over the production strategy of OPEC+ (Organization of the Petroleum Exporting Countries and its allies, editor’s note) this year and over the effects of Donald Trump’s presidency limits the rise in prices on Monday morning,” explain the analysts. from Energi Danmark.
However, a barrel of Brent stood at $76.89, the highest since mid-October, before falling slightly.
Three factors have supported prices over the past two weeks, according to Tamas Varga, analyst at PVM.
First of all, the rise in European gas prices during the interruption of the transit of Russian gas to Europe via gas pipelines in Ukraine had an impact on crude oil prices.
Then, the Chinese economic recovery, “in the form of an increase in civil servant salaries and a sharp increase in financing by very long-term Treasury bonds were also well received” by the oil market, explains Mr. Varga.
The economic health of China, the world’s largest importer of black gold, is essential for oil demand, and a recovery by the Asian giant should limit the imbalance between supply and demand on the oil markets.
Finally, the colder weather forecasts expected in Western Europe and the United States “should stimulate demand for heating oil, which will further support crude prices,” specifies John Plassard, analyst at Mirabaud.
