Brent crude prices stabilized in early Tuesday trading following a drone attack on the Krupokinskaya pipeline station in Russia, which disrupted oil flows from Kazakhstan.
اضافة اعلان
Brent crude futures declined by 0.09% to $75.15 per barrel by 01:37 GMT, while U.S. West Texas Intermediate (WTI) rose by 47 cents to $71.21 per barrel, with Monday’s contracts delayed due to the U.S. Presidents’ Day holiday.
The attack in Russia’s Krasnodar region reduced shipments managed by the Caspian Pipeline Consortium (CPC), affecting Western companies like Chevron and Exxon Mobil. However, sources confirmed to Reuters that the CPC oil loading schedule from the Black Sea for February remained unchanged.
Market reactions to the prices were limited due to fundamental factors. Analysts at BMI forecast that the average price of Brent crude will reach $76 per barrel in 2025, reflecting a 5% drop from 2024, driven by oversupply, tariffs, and trade tensions.
Russian media confirmed that OPEC+ producers are not considering delaying the planned increases in oil supplies starting in April. OPEC had postponed production increases until April in response to declining demand and higher supply from non-OPEC sources.
Geopolitical tensions, along with oversupply in the market, continue to influence global oil prices.
