Posts Tagged ‘russia’

An increasing flow of Middle East crude to Europe has forced Russia’s Urals to fight for its place on the market. The Russian grade has dropped in price but managed to preserve its position in the region as one of the most popular.

Urals differentials have been surprisingly stable since the end of 2015, despite negative events, such as seasonal refinery turnarounds, resumed loadings from Iran and the start of Arabian and Iraqi supplies to northwest Europe, which would be expected to affect prices.

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Current unrest in the Ukrainian – or Russian? – province of Crimea continues to reverberate around the commodity markets.

The global oil benchmark, Brent crude, has seen its price tumble throughout the week after opening above $108 following the Crimean secession vote.

By Thursday it had lost nearly three dollars, although the US WTI price has risen. Such moves appear to be driven by US calls to release oil to the markets to sidestep Russian supplies.

With the UK government also urging its European neighbours to cut energy imports from the East, energy is trading more on policy moves than fundamentals, something that agile online traders may be able to turn to some advantage.
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Commodity prices have recently gone up widely, which has lead to that those who invested in the sector, not have been able to see their investments increase in value. But the last few days, oil prices as well as gold and copper have had its ups and downs. It is said to depend on if the oilstock in the U.S. and Europe reduces, but could also depend on the stable dollar.

Oil

The increasing oil price has been hampered in recent times. It has even declined slightly recently. The reason is said to be that the U.S. is considering to review its oil stocks, and maybe even release a part of this oil to the market, as well as the UK and France. It is in this case, a deliberate (more…)