Friday, 20 Apr 2018
Business

Oil prices start the week down

The prices of the Petroleum They are down more than one percent after an increase in production activity in the United States and after fears of an escalation of the war in Syria dissipated after the attack launched by a Western coalition over the weekend. WE RECOMMEND YOU: Mexico, sixth place in the world in tourism The United States, France and the United Kingdom launched 105 missiles on Saturday against what they said were chemical weapons facilities in Syria, in response to an alleged attack perpetrated by the government of President Bashar Al-Assad. The prices of raw they had risen almost 10 percent in anticipation of the US-led attack, while investors turned to assets such as gold or US bonds, which act as a refuge in situations of geopolitical risk. The referential futures Brent They fell 1.12 percent to 71.79 dollars per barrel, while the futures of West Texas Intermediate ( WTI ) were down 1.02 percent at 66.7 dollars per barrel. “Regarding the events in Syria, the market expresses some relief in the sense that there has not been an escalation, either at the diplomatic level, or in the field, after the intervention of the United States, France and the United Kingdom.” said Harry Tchilinguirian, chief strategist of markets of raw materials of BNP Paribas. Although Syria it is not a significant oil producer, the Middle East welcomes several of the world’s most important oil exporters and tensions in the region tend to make markets nervous. But this time, in addition to some profit-taking due to the attacks in Syria, the Petroleum was under pressure for a further increase in the drilling activity of the platforms in the United States. US energy companies added seven platforms to the activity in the week until April 13, bringing the total to 815, the largest number since March 2015, and nearly 20 percent more than a year ago, according to the oil services firm Baker Hughes. GGA

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