Station explosion in Russia – oil price above $80

Station explosion in Russia – oil price above $80

Oil prices rose above $80 on Monday after an incident in which a Ukrainian drone attacked a major gas station outside St. Petersburg. The plant in question belongs to Novatek in Ust-Luga, and the attack halted production, raising concerns about supply and leading to price increases, according to the British newspaper “Daily Mail”. Reuters.

Analysts expect Novatek to resume normal operations at the station within the next three weeks.

– Although damage to loading docks at the Ust-Luga terminal only briefly affected exports, it raises the possibility that the Russia-Ukraine war will enter a new phase as both sides target critical energy infrastructure, analysts at ANZ Research said in a statement.

The price of North Sea oil rose 0.3% since midnight, reaching $80.10 per barrel. barrel. US light West Texas Intermediate crude rose 0.2 percent to $74.81 a barrel.

In comparison, the price of oil reached $80.49 per barrel, hitting its highest level on Monday night.

The Red Sea and harsh weather

In the Middle East, American and British forces recently carried out new attacks targeting the Houthi movement. The Houthi militia attacked ships in the Red Sea, disrupting global trade and causing shipping prices to rise. At the same time, concerns about increased inflation have increased.

“Without recession fears, extreme weather, US crude oil production and escalating geopolitical conflicts will continue to impact oil prices,” said Leon Li, an analyst at CMC Markets in Shanghai.

In the United States, 20 percent of North Dakota's oil production remained halted due to extreme cold and operating challenges, the state's pipeline authority said Monday.

See also  Saif al-Islam Gaddafi may become the next leader of Libya - NRK Urix - Foreign news and documentaries
Jabori Obasanjo

Jabori Obasanjo

"Coffee trailblazer. Certified pop culture lover. Infuriatingly humble gamer."

Leave a Reply

Your email address will not be published. Required fields are marked *