Texas oil closes 2.7% higher, to $ 38.28

New York, Sep 15 . .- The price of intermediate oil from Texas (WTI) closed this Tuesday with a rise of 2.7%, to 38.28 dollars a barrel, pressured by the approach of Hurricane Sally to the coasts from the Gulf of Mexico, which is disrupting oil operations.

At the end of trading on the New York Mercantile Exchange (Nymex), WTI futures contracts for October delivery rose $ 1.02 from the previous session.

The price of the US benchmark barrel rose as a result of new events in the hurricane season in the southern US, forcing companies to evacuate their staff and stop production, as happened recently with Laura and Marco. .

“The current meteorological system can potentially slow down a million barrels per day, mainly in the Mississippi Canyon area. Unlike the previous evacuation, we expect this situation to only last a couple of days,” the firm said in a note. Rustad Energy analysis.

The authorities anticipate that Sally will remain in a Category 1 hurricane, while Laura was a Category 4, so she is less likely to cause permanent damage to the oil infrastructure.

The Texas already dawned appreciating after two weeks of declines, amid the concern generated by the slow recovery of demand and the possible excess supply.

Analysts attribute it to the OPEC + meeting on Thursday and the prospect of some unexpected action driving prices up.

On the other hand, the International Energy Agency (IEA) estimated today that global oil demand will fall this year to 2013 levels due to the coronavirus pandemic and expects a slowdown in demand recovery in the second half of 2020.

On the other hand, gasoline contracts due in October totaled just over 3 cents to $ 1.14 per gallon, and natural gas contracts for same-month delivery increased 5 cents, reaching $ 2.36 per gallon. every thousand cubic feet.

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