Brent and Texas oil prices today, November 6: How much does it cost and how much is it quoted?

The oil goes up.

Although the energy markets do not register operations on weekends, It does not hurt to know the latest fluctuations around the futures of the Petroleum Brent and its US equivalent, West Texas Intermediate (WTI, for its acronym in English).

both recorded a rise of just over four percent after it was revealed that there is a possibility that China will ease some of its restrictions against the coronavirus, because the country is implementing a zero-covid policy that has caused a negative impact on its economy.

Added to this, another key factor in the rise in oil has been the imminent European Union ban on Russian oilwhich will end up affecting the supply and, therefore, raw material prices.

Nevertheless, oil gains were limited by fears about a possible global recession as well as the US Federal Reserve interest rate hikes (Fed).

A week ago, the President of the Fed, Jerome Powell, announced an increase of 75 basis points in interest rates for the current month of November, arguing that it was still “very premature” think about reducing the rise in the reference rate.

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Prices of a barrel of Brent and Texas oil today, November 6: how much does it cost and how much is it quoted?

With the market closed and according to the latest update of Oil Price Charts, website with more than 150 indices and oil mixes, for this Sunday, November 6, the Brent registered a rise of 4.12 percent, which is equivalent to a rise of $3.90 dollars; Meanwhile he WTI rose 5.04 percent, the equivalent of an increase of $4.4 dollars.

Having said that, Brent is trading at $98.57, Meanwhile he West Texas Intermediate is at $92.61.

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