One of the factors that influence prices is Ukraine’s attack on Russian oil infrastructure.
Oil prices in the world have completed working week with growth and can reach the highest level in three months. Reuters reported this Friday, September 26th.
So, this morning, November Futures in Brent Grade rose with the Ice Futures Exchange of $ 0.16 (0.23%), up to $ 69.58 per barrel. On Thursday, Brent climbed $ 0.11 (0.16%), up to $ 69.42 per barrel.
Meanwhile, November futures in the WTI brand rose to Nymex New York New York Exchange’s electronic trading by $ 0.27 (0.42%), up to $ 65.25 per barrel. For the previous session, the contract dropped to price of $ 0.01 (0.02%), up to $ 64.98 per barrel.
Both indicators jumped more than 4% this week, which was the biggest growth from the week ended on June 13.
“Growth is supported by the continuation of the blows of Ukrainian drones directed against Russia’s oil infrastructure, NATO Russia’s warning of willingness to respond to future airspace violations and the steps of the Russian Federation to stop exporting the main fuel,” said IG analyst Tony Sikamor.
Russian Prime Minister Alexander Novak said on Thursday that the country would introduce a slight ban on diesel fuel exports before the end of the year and to continue the current ban on fuel exports.
The fall of oil refinement capacities drives Moscow to reduce raw oil production. A significant portion of the Russian regions faces the lack of certain fuel scores.
Meanwhile, NATO’s warning about the reaction to further violations of its airspace is aggravated by the intensification of war between Russia and Ukraine, and increased the risks of further sanctions against the Russian oil industry, Anz analyst Daniel Hines said.
Both indicators have reached the highest level from August 1 this week, which due to the unexpected collapse of the weekly raw oil reserve in the United States, as well as Ukraine’s attack on Russia’s energy infrastructure.
The Bureau of Economic Analysis of the Ministry of Trade on Thursday in its final analysis reported that the U.S. Gross Domestic Product in the previous quarter grew 3.8% in the annual Calculus, which was changed to the increase.
More than expected, economic data may make the Federal Reserve system more careful related to reducing interest rates. The US central bank last week reduced bets to 25 main points, for the first time since December, and has signed further decline.
The Regional Kurdistan government announced Thursday that oil exports will continue within 48 hours also put pressure on prices.
The agreement between the Federal Government of Iraq and the regional regional and oil companies provides for the restoration of exporting nearly 230 thousand barrels of oil per day. Streams in the pipelines have stopped since March 2023.
Remember that today, as a result of an attack on the night of the drones, a fire occurred in the AFIP oil refinery in Russia’s Krasnodar territory. “Shards of the Drone” fell into one of the installations.
The network has shown footage of refinery hits in Bashkiria and to Port on Tuaps
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.