Around 10:10 a.m. GMT (11:10 a.m. in Paris), the price of a barrel of Brent from the North Sea for delivery in December, which is the last day of trading, rose 0.10% to $72.62.
The price of a barrel of Brent from the North Sea for delivery in December gained 2.01% to $72.55.
Its American equivalent, a barrel of West Texas Intermediate, for delivery the same month, gained 0.25%, to $68.78.
The day before, oil prices jumped by more than 2%, due to an “unexpected drop in American crude stocks”. According to a weekly report from the US Energy Information Administration (EIA), which shows a drop of 500,000 barrels in US crude stocks while analysts expected an increase of 1.8 million.
OPEC+ (Organization of the Petroleum Exporting Countries and its allies) circulated the idea that it might not reintroduce the 180 kb/d of oil cut under voluntary cuts” at its December meeting.
Thus, the news dismisses the pessimism of investors who saw the price of Brent plunging below 70 dollars due to estimates from the beginning of October from the International Energy Agency (IEA) which predict a very abundant in 2025.
With AFP
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