Le pétrole repart à la hausse

Oil starts upwards

Energy Eilment Market

The oil prices erased, on Wednesday, part of the losses recorded the day before, carried by the conjunction of persistent geopolitical tensions and information revealing a more marked reduction than expected of crude reserves in the United States.
In the markets, the British barrel in the North Sea, an international reference for delivery in October, increased by 1.11 %, exchanging at 66.52 dollars. For its part, the West Texas Intermediate (WTI), American stallion for delivery in September – whose day marked the last rating session – won 1.33 % to 63.18 dollars. This ascent is part of a context where operators keep an attentive eye on the evolution of diplomatic files linked to current conflicts, the outcome of which could influence the flow of energy supply. The markets, sensitive to the slightest uncertainty, thus react to the combination of a tense international climate and cyclical indicators on the raw offer. Tuesday evening, the Federation of American professionals in the sector, the American Petroleum Institute (API), delivered its weekly estimates. According to her, raw oil stocks have dropped nearly 2.4 million barrels over the past week, while those of petrol would have contracted by a million barrels. Figures significantly higher than the expectations of analysts, which tabed on a withdrawal of only 800,000 barrels for crude and 100,000 for petrol. Such a decline testifies to a tight offer, a situation which mechanically exerts upward pressure on global courses. However, observers remain cautious. Many believe that, despite these short -term fluctuations, the oil market could in the medium term experience an excess offer, due to the gradual resumption of production in several producing regions and uncertainties linked to global demand. Investors are now waiting for the official publication this Wednesday, data from the American Energy Information Agency (EIA). These figures, deemed more reliable than those of the API, will specify the magnitude of the movement observed on stocks for the week closed on August 15. Their publication should confirm or temper the upward trend, and thus give a clearer orientation to the markets in the coming days. In a climate where energy balances remain fragile, each statistical data and each diplomatic initiative is closely scrutinized. The crude prices should therefore continue to evolve according to geopolitical announcements and tensions, in a market where volatility remains the rule.
Djamila Sai