Oil rises on U.S., Russia supply concerns amid Ukraine talks
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Oil prices climb on supply risks
Brent crude (brn1!) edged up 0.2% to $75.98 per barrel, while wti crude (cl1!) gained 0.2% to $72.01, extending a three-day rally. Traders are reacting to potential supply disruptions from both Russia and the U.S., alongside uncertainty surrounding the ukraine peace talks.
Russian oil exports cut after ukrainian drone strike
Russia reported that oil flows through the caspian pipeline consortium (cpc) were reduced by 30%-40%, equivalent to a loss of 380,000 barrels per day. The attack on a pumping station in Russia has heightened concerns over further disruptions, supporting oil prices.
U.S. cold weather adds to supply concerns
Extreme winter conditions in North Dakota, the third-largest oil-producing state in the U.S., could lead to a production drop of up to 150,000 barrels per day, according to the North Dakota pipeline authority. This unexpected supply constraint has reinforced oil’s upside momentum.
Opec+ and geopolitical factors in focus
There is growing speculation that Opec+ may delay its planned production increase in april, as concerns over demand outlook and geopolitical risks persist. Meanwhile, reports indicate that U.S. president Donald Trump’s administration is engaging in further peace talks with Russia, potentially impacting sanctions and oil trade dynamics.
Trading outlook
Oil prices remain technically supported above $70, with brent facing resistance near $77-$78 and support at $74. A potential easing of russian sanctions or further tariff-related economic concerns could introduce volatility. Traders are also monitoring indirect Israel-Hamas ceasefire negotiations, which could influence broader geopolitical risk sentiment.
Brent crude (brn1!) edged up 0.2% to $75.98 per barrel, while wti crude (cl1!) gained 0.2% to $72.01, extending a three-day rally. Traders are reacting to potential supply disruptions from both Russia and the U.S., alongside uncertainty surrounding the ukraine peace talks.
Russian oil exports cut after ukrainian drone strike
Russia reported that oil flows through the caspian pipeline consortium (cpc) were reduced by 30%-40%, equivalent to a loss of 380,000 barrels per day. The attack on a pumping station in Russia has heightened concerns over further disruptions, supporting oil prices.
U.S. cold weather adds to supply concerns
Extreme winter conditions in North Dakota, the third-largest oil-producing state in the U.S., could lead to a production drop of up to 150,000 barrels per day, according to the North Dakota pipeline authority. This unexpected supply constraint has reinforced oil’s upside momentum.
Opec+ and geopolitical factors in focus
There is growing speculation that Opec+ may delay its planned production increase in april, as concerns over demand outlook and geopolitical risks persist. Meanwhile, reports indicate that U.S. president Donald Trump’s administration is engaging in further peace talks with Russia, potentially impacting sanctions and oil trade dynamics.
Trading outlook
Oil prices remain technically supported above $70, with brent facing resistance near $77-$78 and support at $74. A potential easing of russian sanctions or further tariff-related economic concerns could introduce volatility. Traders are also monitoring indirect Israel-Hamas ceasefire negotiations, which could influence broader geopolitical risk sentiment.