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[size=36]Oil rises by about 4% and exceeds $81 a barrel[/size]
Economie| 08:47 - 12/13/2022
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Baghdad - Mawazine News
Oil prices recorded a significant increase in trading today, Tuesday, rising by 3.8%, to exceed $81 a barrel.
Brent crude futures recorded $81.14 a barrel, after closing yesterday at $77.99.
US crude futures reached $76.04 a barrel, and had closed yesterday at $73.17.
Oil extended its gains today, Tuesday, as the closure of TC Energy's Keystone pipeline, through which about 620,000 barrels per day of Canadian crude is shipped from Alberta to the United States, continued to reduce supplies and raise the possibility of a decline in stocks in the center of the country. Storage in Cushing, Oklahoma.
Oil prices also received some support from expectations that easing coronavirus restrictions in China, the world's second largest oil consumer, will boost demand.
China lifted some of its tough coronavirus restrictions over the past week, including easing COVID-19 testing requirements and stopping tracking of people's travel records for virus-related purposes.
Oil prices recorded a significant increase in trading today, Tuesday, rising by 3.8%, to exceed $81 a barrel.
Brent crude futures recorded $81.14 a barrel, after closing yesterday at $77.99.
US crude futures reached $76.04 a barrel, and had closed yesterday at $73.17.
Oil extended its gains today, Tuesday, as the closure of TC Energy's Keystone pipeline, through which about 620,000 barrels per day of Canadian crude is shipped from Alberta to the United States, continued to reduce supplies and raise the possibility of a decline in stocks in the center of the country. Storage in Cushing, Oklahoma.
Oil prices also received some support from expectations that easing coronavirus restrictions in China, the world's second largest oil consumer, will boost demand.
China lifted some of its tough coronavirus restrictions over the past week, including easing COVID-19 testing requirements and stopping tracking of people's travel records for virus-related purposes.
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