Brent oil futures fell to 25 cents (0.4%) – up to $ 71.91 per barrel. American Oil WTI loses 20 cents (0.3%) and costs $ 68.08 per barrel.
Oil prices on March 24 were reduced, as investors estimated the prospects for stopping between the Russian Federation and Ukraine, which could lead to an increase in Russian oil supplies in worldwide markets. Reuters reported it.
It is noted that Brent oil futures fell to 25 cents (0.4%) – up to $ 71.91 per barrel. American Oil WTI loses 20 cents (0.3%) and costs $ 68.08 per barrel.
Both major oil indexes grew on Friday, closing the second week in the following with positive results. This happened after the introduction of new US penalties against Iran and the publication of OPEC+Plan’s plan, which contributed to the expectations of a lack of proposal.
“The expectations of developing peace negotiations between Russia and Ukraine, as well as a possible weakening of US sanctions against Russia’s oil, are forcing prices,” said Toshitaka Tazawa analyst Fujitomi Securities.
According to him, investors were restrained from large transactions, as they evaluated the future OPEC+ manufacture policy after April.
OPEC+ on Thursday published a new graph of a labor reduction for seven member countries. It should pay for excessively established quotas and beyond the planned production increase for next month.
According to IEP analyst June Rong, “periods of stopping weather between Ukraine and Russia increase the likelihood of increasing Russian exports in the event of a conflict.
Earlier it was reported that the price of Russian Urals oil dropped to $ 54 per barrel, which has been a minimum indicator over the past 14 months. This creates serious risks for the Russian Federation budget, where more than one third of the income provides the sale of oil and gas.
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Source: korrespondent
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