Oil drums are shown near industrial plants and manufacturing facilities in the Keihin industrial area in Kawasaki, Kanagawa Prefecture, Japan. File photo: BLOOMBERG/SOICHIRO KORIYAMA
Brent crude futures edged lower by 55c, or 0.6%, to $100.03 a barrel at 4.03am GMT after gaining more than $1 earlier.Analysts said the emergency oil release, amounting to about 1- million barrels per day from May to the end of the year, might cap price rises in the short term, but would not fully cover volumes lost if more countries impose sanctions against Russia over its invasion of Ukraine, which Moscow calls a “special operation”.
The release may deter producers, including Opec and US shale producers, from accelerating output increases even with oil prices around $100 a barrel, they said.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
IEA states agree to release 60-million barrels of emergency oil stocksInternational Energy Agency head Fatih Birol gives details of oil plan to counter rising prices after Russia’s invasion of Ukraine
La source: BDliveSA - 🏆 12. / 63 Lire la suite »