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Oil prices rose by 2.24%
Posted On 04 Jul 2017
Ecuadornews:
The price of Texas Intermediate oil (WTI) rose 2.24% yesterday and barrel closed at 47.07 dollars, a good start in the semester and the eighth consecutive rise.
At the end of trading on the New York Mercantile Exchange (Nymex), WTI future contracts for delivery in August rose by $ 1.03 from the end of the last session.
Yesterday’s rise in the price of WTI, the benchmark crude in the United States, is still winning streak since June 21 last year, when it reached $ 42.53.
For Ecuador, the rise in the price of oil can help balance its trade balance because although the income from the oil sales is not taken into account in the budget, it can not be denied that it does affect the balance. Until April this year, Ecuador exported $ 2,238 million in oil compared to the same period of 2016, when it showed a favorable balance of $ 1,264 million, as a consequence of the rise in the price of the barrel of oil. (I)
Source: http://www.expreso.ec/economia/el-precio-del-petroleo-subio-un-2-24-MB1517842
