After rising due to Western sanctions imposed against Moscow, oil prices are again in the red

Oil prices fell on Wednesday as investors assessed the prospects for the return of oil supplies from Russia to Europe via the Druzhba pipeline.

By 09:22 Moscow time, international futures for Brent crude fell 0.75% to $95.59 per barrel.

Meanwhile, futures for US West Texas Intermediate oil fell 0.93% to $89.66 a barrel, according to trading data.

The decline in prices for black gold in today’s trading came after a noticeable increase recorded yesterday in the light of reports about the cessation of oil transportation from Russia to the countries of Southern Europe via a pipeline passing through Ukraine, due to Western sanctions imposed on Moscow.

The Russian company Transneft reported that the Ukrainian company Ukrtransneft stopped on August 4 the pumping of Russian oil through the southern branch of the Druzhba oil pipeline to Hungary, the Czech Republic and Slovakia, as the Russian side was unable to pay transit fees for technical reasons Let’s return to the EU sanctions against Russia.

Source: Prime

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