Key Facts
WTI’s tracking fund USO closed at US$129.17, up 1.33% extending a rally driven by tighter supply expectations and persistent geopolitical risk in shipping lanes.
Stronger crack spreads supported the move reflecting higher US Gulf Coast refinery margins that bolster integrated producers’ cash generation.
Petrobras shares rose 1.46% to US$19.40 as firmer crude highlighted the appeal of Brazil’s low-cost, long-lived pre-salt barrels.
Argentina’s YPF advanced 0.75% to US$52.54 tracking the oil price and an improved local backdrop, signalling cautious optimism for Vaca Muerta drilling.
