Africa-Press – Angola. Oil trading started the week, this Monday, on the London futures market with a rise of more than 4.0 percent, positioning the Brent barrel above 111 dollars, against the 108 dollars with which it closed the previous week. .
According to an observation of the indices and variations presented by Brent oil, a reference to Angola’s exports, the reduction was around US$8.0, or more than 7.0 percent. Thus, within a week (7 days), Brent climbed from 96 dollars to 115 dollars, an increase of more than 20 dollars.
This trend maintains, in spite of everything, the volatility that characterizes the oil trades, in particular, and commodities in general. The rise is being justified by fears of a possible strengthening of sanctions on Russia, this time with the European Union considering cutting the consumption of Russian oil, which would generate greater restrictions and a high demand from other producers.
The negotiations for this month of March refer to deliveries for May and, so far, considering the period from 21 February to 21 March, the average price calculated stood at 104.70 dollars, a variation of 11.80 percent. . The highest value stood at 139.13 dollars and the lowest at 90.12 dollars. The difference between the two is $49.01.
Last Monday, for example, the price of a barrel was at 118 dollars, after a rise of 119.72 dollars during the last week.
Pushed up by the Russia-Ukraine conflict, some predicted the barrel of Brent, a reference to Angolan exports, at the level of 120 dollars. This occurred and was far surpassed with the more than 130 dollars in which the price was fixed.
There is, however, continuous pressure from the United States, which remains committed not to feed or allow the current high prices to last over time.
In addition to favoring inflation, due to greater demand than supply, the current price of a barrel of oil represents an additional cost to families due to derivatives.
For More News And Analysis About Angola Follow Africa-Press
