Monday , January 17 2022

Oil expires almost 7% of New York



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NEW YORK, November 20 (Reuters) – Oil prices have
ends suddenly on Tuesday on the NYMEX New York market and
Lightweight American (WTI) cries its lowest
level for over a year, the sudden decline of Wall Street both
to reinforce the effect of slowing down fears
global demand.

The January contract on West Texas Intermediate has
has lost $ 3.77, or 6.59%, $ 53.43 per barrel left
has touched in power, 52.77 dollars, its lowest level
since October 2017.

At the time of closing the Nymex, Brent ceded
$ 4.33 (6.48%) $ 62.46 after being very close
year 61.71 dollars.

The price of the barrel of WTI now accuses a decline of more than
30% of the highlight of almost four years
October 76.90 dollars.

"At present, this is mainly due to perception
risk, "said Jim Ritterbusch, president of Ritterbusch a
Associates.

"When the stock market reaches 8% or 9%, that is
the possibility of slowing down in the global economy and this drops
weaker petrol demand expectations
expect. "

At the time of closing Nymex, the Standard and Poor Index
500 Wall Street has lost 1.56%.

(Devika Krishna Kumar;
Marc Angrand about the French service)

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