Oil prices rose again this Friday in a market that continues to be sustained by fears of disruption to the supply of crude oil due to the war in Ukraine. Thus, the barrel of Brent from the North Sea for delivery in May ended up 3.05% at US$ 112.67, while the barrel of West Texas Intermediate (WTI) for delivery in April gained 3.12% to $109.33.
“The market tries to stabilize above US $ 100 a barreland no one wants to be out in the open before the weekend in case something bad happens during that time,” John Kilduff of Again Capital told AFP.
The Russian army on Friday extended its offensive in Ukraine, attacking for the first time the city of Dnipro and two military airports in the west of the country. The first high-level talks between the Russians and the Ukrainians after the invasion resolved by Moscow on February 24 took place on Thursday, without reaching a ceasefire.
Russian President Vladimir Putin said he saw some “positive steps” in the negotiations with Ukraine, in a meeting with his Belarusian ally Alexander Lukashenko. Although the statement briefly calmed the market, crude rose again.
At the diplomatic level with Iran, the negotiations that seemed to be on the verge of coming to fruition are now stalled, due to the request of Moscow of additional guarantees.
“According to what we understand, (the agreement) is almost closed but Russia is blocking it because it wants to antagonize the West,” added the analyst at Again Capital.
The talks in Vienna with Iran aim to once again include Washington in the 2015 nuclear agreement, in particular with a lifting of sanctions against the Islamic republic that strongly limit its participation in the oil market.
With information from AFP
Source: Larepublica
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