After closing on Friday, May 12, with a loss of more than one percent, Brent and West Texas Intermediate crude prices (WTI) overturn,
For the morning of this Monday, May 15th, The energy market continues to be on the rise with the above benchmark registering a growth of over one percent. result of market performance Supply adjustments following recent cuts by the Organization of the Petroleum Exporting Countries and its allies (OPEC+), as well as the resumption of stockpile purchases in America,
both factors Globally, fears about lower fuel demand have been countered in the US and China, the main consumers of crude. As far as the OPEC+ outlook is concerned, Some members have announced an extension of the cut of 1.16 million barrels per day, bringing the total cut to 3.66 million barrels per day. Reuters,
Even then, Growth has been limited by concerns about the US economy. This time, Congress and the White House are in talks to raise the nation’s debt ceiling. Lobbying between the two organizations should bear fruit before June 1, otherwise, The country of Stars and Stripes may be facing its first default, raising fears of a recession.
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Texas and Brent Oil Barrel Prices Today, May 15: How much is it worth and how much is it trading for?
This Monday, May 14 at 1:50 am ET, A barrel of Brent crude is trading at $75.26, while West Texas Intermediate is at $71.16.As per the most recent update from the oil price chart website with over 150 global crude oil indices and blends.
During the close on Friday, the prices of both benchmarks were $74.17 for Brent and $70.04 for WTI.
