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Oil prices fall on expectations of normalization of the situation in the Suez Canal




Google News

The current week began on the world oil market with a decline in quotations. By 8.07, Brent crude fell to 63 dollars 13 cents per barrel or 2.02%. The price of WTI crude oil fell by this time to 59 dollars 64 cents per barrel, or 2.18%.





Last week, the oil market experienced high volatility amid the news about the blocking of the Suez Canal, which is an important transport route, including for oil tankers.

This was due to a problem with the container ship Ever Given. He ran aground. However, today there was a message about the successful work on the removal of the ship from the shoal. At the same time, it is not yet known when the channel will resume operation.

According to the Bloomberg news agency, almost 450 vessels are waiting for the opportunity to continue moving along the Suez Canal. Experts expect high market volatility to continue amid uncertainty about demand and mixed sentiment among bidders.

According to the results of the last two weeks, oil prices fell by about 9%.


Google News
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TAGS: OIL, OIL PRICES

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