crude oil prices They rise on Tuesday, helped by prevailing optimism that pushes most stock markets into the green. The easing of Chinese covid-related restrictions, as the local government focuses on economic growth, boosted sentiment. Even so, some news agencies report that the Chinese health system is stressed by the exponential number of new cases. However, good humor prevails.
Oil finds additional support in Russian news as President Vladimir Putin signed a decree banning the sale of Russian oil to countries that have imposed the oil price limit. It will be valid from February 1 to July 1. There are reports that soften the headline and point out that it does not necessarily imply oil exports to countries that have formal bans.
At the moment, West Texas Intermediate is trading at $80.69 a barrel, its highest level since December 5, retreating from an intraday high of $81.18.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
