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24.04.2014 15:40

Oil: an overview of the market situation

Oil prices rose moderately , as the dispute between Russia and Ukraine on the West increased concerns about oil supplies.

According to media reports , in the east of Ukraine Slovyansk go armed clashes between the military forces of Ukraine and local self- reported 5 killed by militias . Guide Donetsk 's Republic announced a general mobilization in the region in connection with the operation of Ukrainian security officials, saying that it is a civil war. Meanwhile , Russian President Vladimir Putin said that the use of the Ukrainian authorities of the armed forces against their own people will have serious consequences . Russia in response to the situation in the south- east of Ukraine began military exercises battalion tactical groups in southern and western military districts.

Experts point out that further escalation of tensions can lead to devastating economic sanctions , which increases the risk of disruptions in the supply of Russian gas , which affects Europe . Russia is also one of the world's largest oil producers.

Meanwhile, adding that the increase in crude oil inventories in the United States to the highest value since 1982 , as stated in yesterday's government data to keep prices in check. Note that the price of Brent crude oil is still increased by almost 6 percent compared to the five-month low at $ 103.95 , which was recorded on April 2.

June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 102.08 per barrel on the New York Mercantile Exchange (NYMEX).

June futures price for North Sea Brent crude oil mixture fell 76 cents to $ 110.00 a barrel on the London exchange ICE Futures Europe.

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