World Oil Prices Today Brent was $ 2 and 2 cents
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Price per barrel of Brent North Sea oil fell to $ 2 and 2 cents at 2 cents today. West Texas Intermediate Oil is also trading at 2 cents, equivalent to a 4.9 percent decline of $ 1 and 2 cents.
Both of these oil indicators experience the first decline in monthly price over the past three months.
Analysts believe that the verbal dispute between US presidents and Ukraine has been in Russia’s interest in the past yesterday, causing the country to bring more oil to the market.
In this conversation, Trump threatened to stop his support for Ukraine and leave the White House Zelnski without signing a joint cooperation agreement on Ukraine’s mineral resources.
Market participants are also investigating the impact of Trump’s energy policies this month. Trump said on Thursday that 2 % toll on goods imports from Mexico and Canada, as well as 5 % additional toll on China’s imports, will be implemented from March 4.
instability that Trump has raised concerns about global demand has raised concerns about the tolls war that Trump has launched. The tariff war can slow down the world economy, raise inflation, and thus reduce demand for crude oil.
According to the Iraqi Ministry of Petroleum, Baghdad will soon announce oil exports from the semi-autonomous Kurdish area through the Iraqi / Turkish pipeline. The ministry said Iraq exported 6,000 barrels a day through the Iraqi Oil Trading Company (Sumo), and that will gradually increase.
, however, 3 international oil companies active in the Kurdistan region have announced that they will not start export on Friday due to lack of transparency of financial contracts and guarantee of past and future exports.
If Kurdistan’s oil exports resume, the question arises as to whether Iraq can fulfill its commitment to OPEC Plus.
If the OPEC Plus coalition will delay its 6,000 barrel production that is due to begin in April, the increase in Iraq’s exports will be beyond its obligations.
