News Formal

Oil prices dip as market retreats from strong bull run

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Both Brent and WTI fall by more than $1 a barrel; Russian oil quality concerns tighten the market and Saudi Arabia is expected to offset supply gap

London — Oil prices fell on Friday as the market retreated slightly from its strongest bull run in at least a year amid efforts to resume Russian oil flows that were interrupted by contamination.

Crude futures are up about 40% this year on markets tightened by an oil cartel Opec supply pact, sanctions on Venezuela and Iran, as well as unreliable production in Libya. The dip followed Brent’s rise above $75 a barrel for the first time this year on Thursday after Germany, Poland and Slovakia suspended imports of Russian crude via a major pipeline, citing oil quality. The move cut off parts of Europe from a major supply route, though Russia is holding talks on Friday with Poland, Belarus and Ukraine. It has said it plans to start supplying clean oil via a pipeline on April 29.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Business Maverick: Saudis Pledge to Ensure Oil Supply if Iran Exports CollapseSaudi Arabia will coordinate with other crude producers to ensure that adequate supplies are available and the market “does not go out of balance,” Energy Minister Khalid Al-Falih said, after the U.S. ended waivers for buyers of Iranian oil.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »