A barrel of Brent BRENT Brent, or North Sea crude, is a crude oil variety serving as a benchmark in Europe, listed on the Intercontinental Exchange (ICE), a stock exchange specializing in energy trading. It became the first international standard for determining oil prices. Won for delivery in April from the North Sea 0.85%to close on $77.99.
A barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variety of crude oil that serves as the benchmark for pricing crude oil and as the raw material for oil futures contracts on the Nymex (New York Mercantile Exchange). The stock exchange specializes in energy.
) American, with an expiration in March, carried it 0.69%has $72.78.The day was volatile, as has often been the case in recent weeks, for WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variety of crude oil that serves as the benchmark for pricing crude oil and as the raw material for oil futures contracts on the Nymex (New York Mercantile Exchange). The stock exchange specializes in energy. Lets go 1.20%before standing up.
“The market is worried by the rising tensions in the Middle East, with the risk of blocking the supply side” explained Andy Lippo of Lippo Oil Associates.
🇺🇸 The United States launched a series of strikes against elite Iranian forces and pro-Iranian armed groups in Syria and Iraq on Friday, a week after an attack on a military base in Jordan that killed three American soldiers.
🇾🇪 On Saturday, it hit dozens of Houthi targets in Yemen, in response to missile attacks against merchant ships in the Red Sea.
“After the response from the United States, the market waits to see how the Houthis will respond“, commented Andy Lippo.”This could lead to more attacks and threaten tanker traffic.“
As of Sunday, American forces destroyed five Houthi missiles ready to be launched against commercial boats, according to the United States.
The risk premium that was added to prices, however, remains moderateSome operators suspect supply strangulation.
“Unless the disruptions extend to the Strait of Hormuz“, the only crossing point for exports from many major producers in the Middle East,”Risks will weigh on prices, but without reducing supply“, Eurasia Group analysts predict.
🇮🇷 Gold, Drift to Hormuz “That seems unlikely, given the Houthis’ reluctance to target Arab neighbors and Iran’s desire to see the fighting not spill over into the Persian Gulf.“, he adds.
🇷🇺 Another focus for investors is Russia, where Ukrainian strikes on oil sites are escalating.
The governor of Volograd region, Andrey Bocharov, indicated that a fire caused by a drone attack forced a Lukoil group refinery located in the region to significantly slow down its activity.
“These actions show the vulnerability of Russian installations“, observes Andy Lipov, and has strained the market for refined products, especially diesel, of which Russia is the main supplier.
(c) AFP
community barrel price
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