Oil prices bounce up to 16.53%

Oil prices fell in recent weeks due, among other things, to the drop in demand due to the global crisis of Covid-19

International oil prices rebounded to 16.53% this Wednesday as several European countries and states announced that they are analyzing the relaxation of the quarantine for productive activities.

The barrel of West Texas Intermediate (WTI) crude, which is listed on the New York futures market (Nymex), rose 16.53% to $ 14.41 for delivery next June.

Meanwhile, the barrel of Brent crude, which is listed on the London electronic market (ICE) and is a benchmark for Europe and Argentina, rose 3.87% to $ 23.62.

Oil prices have plummeted in recent weeks due to declining demand due to the global Covid-19 crisis and difficulties in storing surplus production, especially in the United States.

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Written by Argentina News

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