Prices of a barrel of Brent and Texas oil today, September 22: how much does it cost and how much is it quoted?

Oil dawns with a slight rise.

The upward trend in Brent and West Texas Intermediate (WTI) futures is a result of the prospects around a greater demand for Chinese fuel and the increase in geopolitical risks, factors that exceed Recession fears after interest hikes by central banks.

The prices of both references recorded a rise of more than a dollar, figures backed by surge in oil demand in Chinathe largest importer of oil globally.

According to information from Millennium News, three Chinese state-owned oil refineries and a private mega-refinery are considering increasing their production by up to 10 percent more in Octoberwith respect to the figures registered in September.

Another key factor in the rise in oil has been the situation in Russiawhere the government is conducting their largest recruitment since World War IIwhich has increased fears of an escalation of the war in Ukraine, which could affect the supply.

“(Russian President Vladimir Putin’s) frequent irrational actions and reactions are what will keep the market volatile and violent at times,” said Tamas Vargas, London brokerage oil analyst PVM Oil Associates, According to statements collected by Millennium News.

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Prices of a barrel of Brent and Texas oil today, September 22: how much does it cost and how much is it quoted?

According to the most recent update of Oil Price Chartsrenowned website with more than 150 oil indices and blends, For this Thursday, September 22, the price of a barrel of Brent crude is at $90.34 dollars, while the WTI is at $83.49 dollars.

Although prices have been rising in recent days, the truth is that oil is heading for the end of its worst quarter, in percentage terms, “Since the start of the Covid-19 pandemic”, according to information from Reuters.

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