The barrel of oil has been on a downward trend since last week and will cost less than USD 100, exactly the Brent reference for Colombia.
On the Texas intermediate oil (WTI) side, it fell 0.7% to close at $104.90 as fears of a potential recession continue to resonate in the market and new cases of covid in China boost demand for black. threaten to affect oil. gold.
Meanwhile, the price of a barrel of Brent oil for September delivery on the London futures market ended at $107.10, up 0.07% after opening lower on Monday.
On this effect that the two references have had, Juan David Ballén, Director of Analysis and Strategy at Casa de Bolsa SCB, emphasized that this move is due to the clashes of offers generated by the war in Ukraine and the energy transition.
On the Colombian side, he explained that the main factor in this move is the appreciation of the dollar, which is why the price of Brent in Colombian pesos is at record highs.
“What this behavior will result in for the Colombian citizen is a higher fuel price,” said the analyst from Casa de Bolsa SCB.
Meanwhile, Henry Amorocho, Professor of Public Finance in the Faculty of Jurisprudence of the Universidad del Rosario, pointed out that this volatility in the oil price is not good for Colombia, as it does not leave any clarity on what the evolution of estimates of the foreign exchange market for oil is. -export.
He added that for the remainder of this month and the next, oil in Colombia will seek stabilization as commodities generate stabilization in the international scenario.
“The price of freight is already starting to fall and that will somehow stabilize the market for these prices as well,” the economic analyst told EL HERALDO.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
