London: Oil prices hesitated on Monday, caught in the heat of slowed industrial production in China, a bad signal for demand for black gold, counterbalanced by the strengthening of expectations of American rate cuts, which on the contrary is pulling prices towards the high. Around 10:55 a.m. GMT (12:55 p.m. CET), the price of a barrel of Brent BRENT Brent, or North Sea crude, is a variation of crude oil serving as a benchmark in Europe, listed on the InterContinentalExchange (ICE), a stock exchange specializing in energy trading. It became the first international standard for setting oil prices. from the North Sea, for delivery in August, sank by 0.16% has $82.49.
Its American equivalent, the barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variation of crude oil that serves as a standard in setting the price of crude and as a raw material for oil futures contracts with the Nymex (New York Mercantile Exchange). ), the stock exchange specializing in energy.), for delivery in July, flowed back from 0.20% has $78.29.
The two crude benchmarks started the session in the green.
But “a new weakness“black gold prices”is observed this morning due to weak activity in Chinese factories“, notes Tamas Varga, of PVM Energy.
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