Written by Colin Hao and and TIX
(Reuters) – Brent oil prices advanced on Tuesday in addition to gains in the previous session after a drone attack on the oil pipeline pumping station in Russia, lowering the flows from Kazakhstan, but the gains were specific to the possibility of increasing the supply soon.
Brent crude contracts gained 15 cents, or 0.2 %, to $ 75.37 a barrel at 0454 GMT.
Raw intermediate contracts in West Texas rose 67 cents near Friday at $ 71.41 a barrel. There was no settlement to WTI on Monday due to the US President's Day holiday.
“The dominant topic that drives oil prices has recently been about the offer expectations. With poor prices over the past weeks, the news of the drone strike on the Kazakhstan export pipeline in Russia has provided the catalyst for some of the homogeneous feelings to relax,” said yes John Rong in Email message.
Caspian pipeline, operator, said on Monday that the drone drone on the Cropskinskaya station in the southern Russian Krasnodar area reduced the shipments of Kazakhstan to global markets by Western companies including Chevron and Exxon Mobil, the Caspian pipeline on Monday.
Two sources are familiar with the Reuters plan that the SEA CPC Blend Sea CPC oil download plan will remain unchanged.
“However, long -term gains are likely to remain covered as the market may expect higher supplies than OPEC+ and Russia on the road, while the improvement in demand for demand is still not certain, with modern economic data.” .
The body mass index analysts said that they see that Brent prices are $ 76 a barrel in 2025, a 5 % decrease from an average of 2024, due to the increase in the supply in the market, tariffs and commercial tensions.
Opec+ producers do not think about delaying a series of monthly increases in oil supplies scheduled to start in April, according to the Russian government media report.
In December, OPEC has declined a plan to start raising production to April, due to poor demand and the increase in supply outside the group.
The markets were also waiting to find out if peace talks in Russia-Ukraine would bear fruit, as American and Russian officials gathered in talks in Saudi Arabia later on Tuesday.
“It seems that there is a lot that we must be identified in the raw market, and it is the largest factor is now the result of Ukraine negotiations. Russian oil may partially return to the legitimate market, although there is of course a lot of exchange in the final result here,” Nil Crossby said. , Sprta commodity analyst.
(Participated in the reports of Colin Hao; edited by Michael Perry and Sonali Paul)
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