The oil prices fell this Thursday, after the Russian president, Vladimir Putinwill ensure that Russia maintains its hydrocarbon deliveries despite Western sanctions.
the barrel of Brent of the North Sea for delivery in May gave up 1.62% to 109.33 dollars.
While the barrel of West Texas Intermediate (WTI) for April delivery fell 2.46% to $106.02.
Putin assured this Thursday that his country maintains all its deliveries of hydrocarbons, despite the conflict in Ukraine and Western sanctions, and stated that Russia is not responsible for the rise in prices in the world.
“We are fulfilling all our obligations in terms of energy supply,” Putin stressed at a government meeting.
He insisted that “all volumes” were being delivered to Europe and other places and that “Ukraine’s gas transportation system is 100% full”, constituting this network of gas pipelines one of the key gas arteries to supply the continent. European, of which 45% comes from Russia.
“The risk of further disruption remains high,” said Craig Erlam, an analyst at Oanda, “particularly with the new sanctions to come that will make life more difficult for Russia, and companies (will make them) less willing to do business.” in that country.
Crude supply remains tight. On Thursday, the United Arab Emirates affirmed that it will respect the commitments to gradually increase production adopted by the OPEC+ (OPEC and its allies), within which is Russia.
On Wednesday, the Emirati ambassador in Washington, Yussef Al Otaiba, declared himself in favor of an increase in production, an idea that helped to curb the soaring prices.
These contradictory messages “leave the market uncertain about its real position on this issue, which creates conditions that could generate greater price volatility,” said Ricardo Evangelista, an analyst at ActivTrades.
For Daniel Ghali, of TD Securities, these tensions in OPEC + eliminated this Thursday the risk premium included in the prices as they hint at “a potential signal” of increased production.