London /
Oil prices were rising today due to news about the monetary stimulus of the main importerChina, and because of concerns that the conflict in the Middle East could affect the supply, while another hurricane threatens the United States, the world’s largest oil producer.
Brent futures gained $1.34, or 1.8%at $75.24 a barrel, and those of West Texas Intermediate In the United States (WTI) they totaled 1.38 dollars, or 2 percentat $71.75.
“The crude market has been desperately looking to Chinese authorities for further easing measures to counter the economic slowdown,” said Tony Sycamore, a market analyst at IG.
He Chinese central bank announced his greater stimulusor since the Covid-19 pandemic to get the economy out of its deflationary quagmire and bring it back closer to the goal of government growth.
In Middle East one of the main oil-producing regions, the Israeli army reported that on Monday it launched air strikes against Hezbollah facilities in Lebanon, which according to Lebanese authorities caused the Death of 492 people and caused tens of thousands to flee in search of safety.
The attacks could bring Iran – producer of the OPEC, that supports Hezbollah– to a conflict with Israel and trigger a wider war in the region.
Meanwhile, oil producers Americans were rushing to evacuate personnel of the platforms of the Gulf of Mexico before the arrival of the second hurricane in two weeks to the area. Several oil companies interrupted part of their pumping.
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