Page 6 - Basrah Medium News Today

Despite some headwinds in Asian markets, Middle East producers continue to hike OSPs as Europe considers a full oil embargo on Russian crude

Crude oil prices are expected to be weighed down in the week ending April 22 amid supply disruptions in Libya and the prospect of further reductions in Russian oil supply amid rising Ukraine tensions. Front-month June ICE Brent crude futures stood at $112.55/b at 0240 GMT April 18, up 85 cent/b from settlement on April ...

Middle East oil producers continue to hike their prices despite the fact that heavily-discounted Russian crude is making its way to the same, heavily contested Asian market

For now, traders appear to be taking the view that the flow of Russian oil indicates that the market won’t be as tight as first thought.

(Bloomberg) -- Millions of barrels of Russian oil are still finding a way to buyers almost a month after the country first invaded Ukraine, tempering concerns that a sanctions backlash would all but choke off supply and cause the market for physical cargoes to overheat.

(Bloomberg) -- The escalating crisis over Ukraine has upended the cost of shipping oil by sea.

By Bloomberg News (Bloomberg) — The escalating crisis over Ukraine has catapulted the cost of shipping oil by sea.  Freight rates for hauling crude from Russia are surging as sanctions imposed...

Asian oil buyers are trying to secure more crude from Saudi Arabia to be shipped in the next few months, as the Russian invasion of Ukraine threatens to disrupt global flows and even create an energy crisis. Customers in the world’s biggest crude-importing region are putting in inquiries to Saudi Arabian Oil Co for shipments arriving in May, said traders with knowledge of the matter, who asked not to be identified as the information is private. That is on top of a likely increase in requests ...

Iranian nuclear deal negotiators appear close to clinching a deal, bringing the prospect of significant supplies coming on to a tightening oil market and intensified intra-OPEC+ competition. Both sides have signaled that an agreement could come within days. Iran’s foreign ministry said Feb. 21 the negotiations had progressed considerably, with two or three remaining issues ...

Middle Eastern producers hiked oil prices for March as global inventories tighten and the disparity between OPEC’s self-reported production and third-party assessments widens