Africa-Press – Angola. The country’s Gross International Reserves, which measure existing resources in cash, gold and other raw materials accepted as international collateral, started this week at a level of US$16.2 billion.
According to the weekly evolution table of the National Bank of Angola, available on its website, the Net International Reserves are estimated at 10.6 billion dollars and arrive, at least, in extreme cases, to guarantee more than 10 months. uninterrupted import.
When compared to the 15.5 billion in Gross Reserves and 9.8 billion in Net International Reserves, the country’s “stock” recorded an increase of around one billion dollars.
It is at least, according to analysts, expectation that these indicators will continue to show a significant increase, considering the current prices of a barrel of oil in international markets.
Oil is 93 dollars
The barrel of Brent oil, a reference to Angolan exports, opened the trading session in London yesterday at US$92.7, below the US$93.2 at which it closed the session on Friday.
However, according to notes from Investing.com, regarding the daily variations, around noon (Angola time), the barrel was being sold for 93.03 dollars, but reached 93.99 dollars earlier, just one point percentage to hit $94, a price that also broke the September 2014 record.
Wall Street Forecasts
The Fear and Greed index measures investor sentiment in stocks, bonds and cryptocurrencies on a scale from 0 to 100, where 0 is extreme fear state that causes extreme selling pressure, while 100 suggests extreme buying
or extreme greed. However, among “commodities”, supply constraints and geopolitics can cause mixed fear and greed, in the sense that the fear that something is in short supply can make investors extremely greedy to buy – as is now the case with oil.
Oil’s runaway rally over the past two months has had everything in its favor, from geopolitics to supply policy. The only thing missing was an actual weather crisis. That was offset last week by fears of a freeze in Texas, pushing the market firmly above $90, based on the idea that the Permian oil and gas basin could freeze again, as it did last year.
WTI oil, the US price benchmark, as well as its UK counterpart, Brent, had their seventh straight week of rally towards Wall Street banks’ forecast of $100 a barrel. In fact, that price target was set well before the crisis between Russia and Ukraine, the unconvinced production increases by OPEC+ and the arctic blizzard that hit much of the US early last week, including Texas, which normally it is the fourth hottest state in the US outside of winter.
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