One more Sunday arrived and though energy markets are closed on weekends and do not carry out operations; they did not hurt as well slow about oil fluctuations.
Acted on the second Friday of the 19th of May. Brent and West Texas average prices (WTI) they registered a drop of less than one percent; according to figures from Bloomberg Energy.
The fall in crude oil prices was revealed after the fact.Negotiations between the White House and the US Congress on the debt are stalled; which concerns he placed in the market; if an agreement is not reached, the American Union will default, which will trigger a recession and consequently a drop in demand.
Expected business resume between today and tomorrow; especially now that Biden is President he returned to his country after his journey to Japan. It is a country until the 1st of June to come to an agreement, otherwise the funds for the activities of the administration of the republic will hardly begin; This was warned by the secretary of the United States Treasury, Janet Yellen.
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Texas and Brent oil barrel prices, May 21: How much is it and how much is the trade?
After the market closes and according to the latest update of the Oil Price Charts, the most famous site will mix with more than 150 global oil indices, on Sunday, May 21. West Texas Intermediate crude is trading at $71.55 a barrel, after falling $0.31, or 0.43%, while Brent crude fell $0.28, or 0.37%, to trade at $75.58 a barrel.
Although it fell on Friday, it is true then the benchmarks recorded their first weekly rise so far this month.