By Victor Duda
The rise in prices continued last week, when both contracts went up by more than 1% after the strikes of Ukrainian drones on key facilities: the largest oil export terminal of Primorsk and the Cyrish oil refinery - one of the two largest in Russia. In addition, on September 13, Ukrainian drones attacked the refinery in Ufa, the capital of the Russian Bashkortostan.
Primorsk with a capacity of about one million barrels a day is the most important export hub for Russian oil, and the Cyrish plant processes about 17. 7 million tons of oil per year, which is 6. 4% of the total production in the country. The rise in prices was also influenced by US President Donald Trump's new statement on possible sanctions against Russia.
The founder of Vanda Insights Analytical Company, Vandana Hari, noted that potential sanctions and punches on oil infrastructure can contribute to the rise in "black gold" prices. At the same time, she said that in the long run the cost of oil is likely to decline in view of excess raw materials on the market, but this will only happen after news from Ukraine will become less intense.
In addition to geopolitical factors, investors closely monitor the trade negotiations between the United States and China in Madrid, which started on September 14. These negotiations are against the background of Washington's requirements for the Allies to impose duties on Chinese imports through the purchase of Russian oil by Beijing. We will remind, regular blows of Ukrainian UAVs on oil and gas facilities in Russia deprives it of the main source of financing of war.
USA
Українська
English
Français
Deutsch
Italiano
Polski
Čeština
Español
Slovensku
