No change of the indicator value may reduce the volatility of the related markets.
No change of the indicator value may reduce the volatility of the related markets.
On Thursday, oil prices decreased by about $1 per barrel.
In response to the West's decision to limit Russian oil supplies, energy exports to countries that would insist on respecting price caps will be banned. This was stated by Deputy Prime Minister of the Russian Federation Alexander Novak.
Exports of Russia's main Urals crude oil from Baltic Sea ports may drop by 20% in December. This is related to the entry into force of marginal oil prices and the European Union embargo on supplies from Russia.
An increase of oil prices was registered on Friday due to expected decline in crude exports from the Baltic region of Russia in the current month. This fact mitigated concerns that transport fuel demand might stop growing because of an upcoming Arctic storm in the United States.
On the agenda are data on oil platforms from Baker Hughes and speculative positions on oil and gas, gold and silver.
Demand for gold remained relatively unaffected. According to the World Gold Council, the positive dynamics of demand was recorded among segments of jewellery, investment bars and coins. Demand for Central Bank securities also increased.
According to forecasts, most of Europe will experience relatively warm weather during the holidays. Thus, the risk of heavy snowfalls at Christmas will be lowered, and the European power grid’s stress will be mitigated.
Oil steadied after a three-day rally. Market watchers’ fears that short-term Chinese demand may decline amid a COVID-19 surge offset support from a draw in US oil inventories and a less strong dollar.
In a few days, Germany will stop importing oil from Russia. This creates pressure to look for alternatives. One option is to use Russia’s pipeline system to import oil from Kazakhstan.
The abrupt cancellation of the Covid Zero policy has caused a wave of disease across the country. Consequently, traffic in China's largest cities fell to its lowest level since the beginning of the year.