The price of Texas Intermediate Oil (WTI) closed this Monday with a rise of 2.94%, to $78.82 a barrel, driven by the latest United States sanctions on Russian crude oil, as well as by exports to India and China.
At the close of the session in the New York Mercantile ExchangeUS crude oil contracts for delivery in February added 2.25 dollars compared to the previous day.
- The United States, in coordination with the United Kingdom, sanctioned two of the largest producers on Friday and oil exporters from Russia: Gazprom Neft, the country’s third largest oil company, and Surgutneftegas, another prominent company in the energy sector.
In addition, it acted in the same way with two dozen subsidiaries of Gazprom Neft and Surgutneftegas, as well as with 183 Russian ships carrying oil and that, according to US officials, they are part of a “shadow” fleet to sell Russian crude oil by evading Western sanctions.
The objective of these measures is to cut off the income that finances the Kremlin war machine in Ukraine and could cost the Russian economy billions of dollars a month.
Oil companies russian
The new sanctions include a gradual period until March 12, so there may not be major disruptions yet, but the oil exports Russians are finally seriously affected; forcing China and India as large importers to supply crude oil from the Middle East, Africa or America.
Goldman Sachs estimated that the vessels affected by the new sanctions transported 1.7 million barrels per day (bpd) of oil in 2024, or 25% of Russia’s exports.
The analysts of JPMorgan They said Russia had some room for maneuver despite the new sanctionsbut it would need to acquire non-sanctioned tankers or offer crude at $60 or less a barrel to withstand the impact of US measures. EFE
