The price of intermediate oil Texas (WTI, in English) rose 0.53% this Wednesday, to $58.95 a barrel, given the apparent stagnation of the peace negotiations for Ukraine held between USA and Russia.
At the end of the session, WTI futures contracts for delivery in January they added up to 0.31 dollars compared to the previous day.
The Kremlin denied this Wednesday that it had rejected the US peace plan for Ukraine in the five-hour negotiations held the day before between Russian President Vladimir Putin and White House envoy Steve Witkoff, while kyiv maintains that there was no progress.
US sanction
Analysts pointed out that the market is awaiting any progress due to its impact on the US sanctions against Russian companies, which includes the country’s largest oil companies, Rosneft and Lukoilwhich limit the supply of global crude oil.
- Meanwhile, Ukraine again attacked the Druzhba pipelinewhich connects Russia with Hungary and Slovakiathe two European Union countries that continue to import Russian crude oil directly.
At the domestic level, the US Government is expected to publish weekly data on commercial fuel reserves this afternoon, although the estimates of the American Petroleum Institute (API), the employers’ association, point to an increase.
The API reported last night a weekly increase in reserves of crude oil and gasoline, What it does can be interpreted as a sign of weakness in demand.
