Oil prices stabilized on Wednesday morning after the Ukrainian attacks on Russian refineries and the possibility that the conflict between Israel and Hamas could expand to include Iran in a more direct way, writes Reuters. At the same time, oil stocks in the United States, the world’s largest oil consumer, fell more than expected.
Figures from the American Petroleum Institute (API), the largest trade organization for the petroleum industry in the United States, indicated last night that crude oil inventories in the United States fell by 2.3 million barrels last week.
North Sea crude oil is down 0.3 percent in the morning hours to around USD 89.00 per barrel. barrels, the highest level since last October. The US WTI oil is down the same to 85.14 dollars a barrel.
Great unrest
– Geopolitical tensions continue to cast uncertainty about potential supply disruptions, says IG’s market strategist Yeap Jun Rong, to Reuters.
On Monday, Israel carried out an airstrike in which seven Iranian military advisers were killed. Now revenge is announced. It is the first time Israel and Iran are in direct confrontation since the Gaza war broke out last October. The widening of the conflict has led to concerns about the impact on oil supplies, as Iran is one of the world’s largest oil producers.
At the same time, Ukraine has carried out a drone attack on one of Russia’s largest and most modern oil refineries in Tatarstan. The Taneco refinery is the third largest and one of the newest in Russia, with a capacity of 360,000 barrels per day.
Tags: Great uncertainty oil market Finansavisen
