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Oil responds with rises to Saudi warnings, but remains below $100

MADRID, 23 Ago.

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Oil responds with rises to Saudi warnings, but remains below $100

MADRID, 23 Ago. (EUROPA PRESS) -

The price of a barrel of oil responded this Tuesday with slight increases to the comments of the Saudi Arabian Energy Minister, Prince Salmán bin Abdulaziz, who warned yesterday of the disconnection between the futures and physical markets, which opens the door, according to experts, for the Organization of Petroleum Exporting Countries (OPEC) to adjust its production downwards.

In the case of a barrel of Brent crude, a reference for Europe, the price rose to 97.38 dollars from 96.48 dollars at the close yesterday, while the cost of a barrel of West Texas Intermediate (WTI) crude, from benchmark for the United States, rose to $90.67 from $90.23.

Speaking to Bloomberg News on Monday, the Saudi minister noted that "paper and physical markets have become increasingly disconnected."

"Witnessing this recent damaging volatility disrupts basic market functions and undermines the stability of oil markets will only strengthen our resolve," he added.