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Oil: Crude prices soared on Thursday

14/10/2022
Categories: Raw materials

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After the publication of low American inventories of distilled products, such as diesel, crude oil prices soared on Thursday, October 13 as pressure on production cuts rose between Saudi Arabia and the United States.

The barrel of West Texas Intermediate (WTI) for delivery in November rose by 2.10% to 89.11 dollars while that of Brent of the North Sea for delivery in December rose by 2.27% to $89.11 94.57 dollars.

According to White House Security Council spokesman John Kirby, last week's OPEC+ decision, under Saudi Arabia, to reduce the supply of black gold & eacute; equivalent to “economic support” for Russia, a major exporter of hydrocarbons.

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