Brent crude futures rose US $ 2,25, or 3.6%, au $ 65.03 per barrel. The crude West Texas Intermediate of the United States advanced US $ 2,24, or 3.7%, Au $ S63.03.
Petroleum prices rose more than US $ 2 on Monday, although The OPEC+ producing group maintained its plans to increase productiongiven that Forest fires in Canada threatened the supply and President Donald Trump’s new tariff threats pressed the dollar.
The futures of crude Brent Us $ 2,25, or 3.6%, U $ S65.03 by barrel. The crude West Texas Intermediate of the United States advanced US $ 2,24, or 3.7%, to U $ S63.03.
In Canadathe forest fires In the province of Alberta they caused the temporary closure of the production of oil and gas, which reduced the offer. “Forest fires in Alberta are starting to spread,” said John Kilduff, a partner of Capital Capital in New York. “We are going to lose some barrels.”
Also promoting prices, dollar fell generalized on Monday due to The concern that Trump’s new tariff threats can damage growth and enliven inflation. A weakest American currency cheales raw materials, which are quoted in dollars, for buyers who use other currencies.
This happened despite the fact that the organization of oil exporting countries and its allies, collectively known as OPEC+, decided on Saturday to raise their pumping in 411,000 barrels per day (BPD) in July, The third consecutive monthly increase in that amount, in its attempt to recover market share and punish members who have produced above their quotas.
Ukraine’s offensive to Russia promoted the price of oil
However, the geopolitical impact weighed more than the announcement of the cartel. Ukraine This weekend launched an offensive with drones about Russian strategic infrastructure, destroying dozens of military aircraft whose planning had been more than a year and a half. As reported by the agency Interfaxthe operation was directly coordinated by the president Volodimir Zelenski and designed by the head of the Ukrainian Intelligence Service, Vasyl Maliuk. According to estimates from Ukrainian military sources, the damage caused to Russia would be around the 7,000 million dollars.
The attack occurs hours before a diplomatic encounter planned between delegations of Russia and Ukraine in Istanbulwhich adds more uncertainty to the international panorama.
“The rise in crude oil prices responds to the increase in tensions between Russia and Ukraine, after drone attacks in Russian territory,” he explained Ipek Ozkardeskayaanalyst Swissquote Bank. The expert added that the market had already largely discounted the announcement of the OPEC+, and that the fact that the increase in production has not exceeded expectations generated a moderately positive reaction.
Source: Ambito
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