The prices of Petroleum They fell slightly in the early hours of this Friday 25, after a significant escalation the day before as a result of Russia’s invasion of Ukraine.
Thus, concern about possible interruptions in global supply in light of the sanctions against Russia, a large world oil exporter, subsided in West Texas Intermediate (WTI), where oil futures in the United States fell 42 cents, or 0.43%, to $92.43 a barrel, after a high of $95.64.
Meanwhile, April Brent futures were down 72 cents, or 0.73%, at $98.36 a barrel by 1124 GMT, after rising as high as $101.99. The most active contract, May futures, yielded a dollar at $94.42 a barrel.
On the fateful day of Russia’s invasion of Ukraine, from Donbas, prices hovered above US$100 a barrel for the first time since 2014. In the case of Brent, oil hovered around US$105, before lowering prices. earnings at the end of the day.
In response to the invasion, US President Joe Biden launched a wave of sanctions against Russia, in measures that impede the country’s ability to do business in major currencies along with restrictions against banks and state-owned companies.
Britain, Japan, Canada, Australia and the European Union also unveiled punitive measures, including Germany’s decision to halt certification of an $11 billion Russian gas pipeline.
However, Russia’s oil and gas flows will not be specifically targeted for sanctions, a US official said. The country is the world’s second largest producer of crude oil and a major supplier of natural gas to Europe.
However, major buyers of Russian oil are having trouble getting collateral from Western banks or finding ships, sources told Reuters.
Source: Larepublica
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