Crude oil operated all day on the rise, very aware of the evolution of Trump, who announced after the close of the session that he would leave the Walter Reed military hospital, where he entered last Friday, and added that “there is no need to fear” COVID -19.
“Crude prices have risen progressively along with those of stocks as an improvement in President Trump’s health would raise the chances that a fiscal stimulus agreement will be reached before the presidential elections” on November 3, he said in a note. analyst Edward Moya, from the Oanda firm.
Mexico City, October 5 (SinEmbargo / EFE) .- The start of the week of quotes of the Petroleum internationally, it took an upward trajectory that contrasted with the impact of its price last week, when you feared a new contraction from economy as a result of new restrictions by the pandemic and aggravated by the positive President of the United States, Donald Trump.
As it could happen with the intermediate oil of Texas, the Brent could also move based on the health condition of the North American president, who has improved since last Friday, although concern about the global demand and a potential excess supply, according to analysts.
The mixture mexican Export exports also started higher, like its international peers, selling at $ 36.02 per barrel, a daily gain of 5.44 percent. Mexican crude has appreciated 1.86 dollars from its previous closing, when it traded at 34.16 dollars, a result with which it posted a loss of 9.77 percent weekly.
The price of a barrel of oil Brent for delivery in December it rose 5.67 percent on Monday in the London futures market, thus tracing the downward trend that marked the last negotiation. North Sea crude, a benchmark in Europe, was trading at $ 41.50 in the mid-afternoon on the International Exchange Futures compared to $ 39.27 at the last close.
The price of Texas intermediate oil (WTI) closed this Monday with a strong rise of 5.9 percent, up to 39.22 dollars a barrel. At the end of trading on the New York Mercantile Exchange (Nymex), WTI futures contracts for November delivery totaled $ 2.17 compared to the previous session on Friday, which ended with a drop of 4.3 percent after the diagnosis was known. positive of the agent.
The market remains hopeful that Republican and Democratic lawmakers will reach an agreement on the new aid plan to mitigate the impact of the pandemic, which has been stalled for months in Washington, and negotiations are expected to continue tomorrow.
On the supply side, the reduction in Norwegian supply has had a positive influence due to a workers’ strike that has forced the closure of six extraction fields and will cut some 330 thousand barrels of oil equivalent, 8 percent of national production.
However, this reduction has been offset by the increase in Libyan production, which stands at about 290 thousand barrels a day, according to press reports.
On the other hand, gasoline contracts due in November totaled 7 cents, to $ 1.19 a gallon, and natural gas contracts for delivery in the same month rose almost 18 cents, to $ 2.62 per thousand cubic feet.