Nica tyranny of ceasefire between Russia and Ukraine fell oil
Oil prices have fallen on Monday as investors evaluated ceasefire talks to end the Russian -Carrenian war, which leads to an increase in the supply of Russian oil to global markets.
Brent crude futures decreased by 25 cents or 0.4 percent, 04:09 to the barrel by GMT. To 71.91. US West Texas intermediate raw fell to 20 cents or 0.3 percent to $ 68.08.
After a new plan from the OPEC Plus Alliance to reduce US sanctions and production against Iran, the two standards increased on Friday and recorded gains in the second week.
An American delegation sought progress for ceasefire at the Black Sea and concluded a war in Ukraine at a meeting with Russian officials in Saudi Arabia after the US delegation held talks with Ukrainian diplomats on Sunday.
“Fujitomi securities analyst Tushitaka Tajawa said,” The possibility of progress in peace talks between Russia and Ukraine and the possibility of US sanctions on Russian oil has led to cheaper prices. ” “But investors do not want to enter into big investments in the light of the evaluation of future product trends (OPEC Plus) for Post -April.”
On Thursday, OPEC Plus Alliance issued a new time plan to reduce the production of seven -member members to replace their production, which exceeded the accepted levels. The plan provides monthly discounts up to 189,000 barrels per day and up to 435 thousand barrels per day and will continue until June 2026, which will exceed the increase in the monthly production that will be implemented next month.
“The final solution between Ukraine and Russia is reinforcing the risk of increasing Russian exports in the event of a final solution, but the increase in OPEC Plus production indicates an additional increase in the supply of supply in early April,” said Singapore’s IG strategic expert and Singapore’s resident IG John Rong.
Market participants are also overseeing the impact of new US sanctions related to Iran announced last week.
Market courage over oil prices recently improved in the light of US sanctions on Iranian exports, and that mutual American tariffs may be less intense than expected, although the widespread expectations of supply and demand are still different from the IG.
Iranian oil supplies are expected to decrease to China in short term after new US sanctions, which can lead to higher shipping costs. But traders expect buyers to find alternative solutions to maintain at least a few sizes.
This is the fourth package imposed by US President Donald Trump in February as US President Donald Trump has pledged to declare the “maximum pressure” campaign on Tehran in February and reduce the country’s oil exports to scratch.
