The oil sector boosted by the strength of crude prices

Posted 18 January, 2022

The oil sector boosted by the strength of crude prices

 

The strength of crude oil prices logically benefits the oil sector on the stock market like TotalEnergies which advances by 1.7% to 50.5 euros, at the top of the CAC40. TechnipFMC (+2.6%), CGG (+2.7%) and Schlumberger (+3%) are also well oriented. The barrel of oil is at its highest since 2014, above $87 for Brent, boosted by the return to the fore of geopolitical fears after the attack attributed to the Yemeni Houthi rebels targeting the United Arab Emirates. Basically, the market also still appears to be unbalanced between a demand that resists the Omicron variant and a supply that is struggling to adjust with the multiple operating problems encountered by several large producers of black gold.

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18 January, 2022 15:23

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