What an eventful past 7 days for the Oil and Gas Markets. Herewith below a brief summary:
From our company archive. Market commentary reflects its original publication date.
What an eventful past 7 days for the Oil and Gas Markets. Herewith below a brief summary:
Futures for WTI crude have escalated beyond $91 per barrel, nearing a ten-month peak. This is largely due to apprehensions that a prohibition on fuel exports by Russia could further constrict the worldwide oil supply.
In an attempt to stabilize domestic market fuel prices, the Russian government has declared a temporary halt on gasoline and diesel exports.
This restriction follows a nearly one-third reduction in the country's diesel exports in the initial two weeks of September.
According to official figures, there was a decrease of 2.135 million barrels in US crude inventories last week, bringing the stocks at Cushing to their lowest level since July 2022.
Over the course of the week, the US oil benchmark has seen an increase of almost 1%. #gas #drakensbergenergy #oil #russia #gasoil #gasoline #diesel #petrol #bunkering