There was a lower noise in London market for 72 cents after noon than at closing trade at the end of last week and amounted to 68.56 dollars. In almost the same amount, Barel was cheaper and in the American market where it was traded at 66.65 dollars.
At the end of last week, the attention of traders was occupied by a new European package sanction Russia. EU member leaders achieved the agreement on measures on Friday, which include and lower the price limit for Russian oil.
Insurers and carriers will no longer be serviced by Russian barrels whose price exceeds the movable limit, set 15 percent below the market average, the Hina occurs.
The new European sanctions will drop the price limit for Russian oil at $ 47.6, they said diplomats for Reuters. The EU will no longer import nor products from Russian oil, although the prohibition will not cover Norway, Britain, the United States, Canada and Switzerland, added.
The EU sanctions include, according to the representatives of the Foreign Policy, KAYS KALLAS at the XU, and the largest refinery of Russian Rosneft in India.
Since the beginning of the year from India and Turkey, the EU imported about 479 thousand barrels per day, mostly heavy and light diesel, kerosene and fuel oil, show data from Kepler.
On Friday, a diesel with a low-shared sulfur in the term contracts in the London market was as much as $ 27.70 more expensive than oil. The price difference increased by as much as $ 3.50, most of February last year.
The price increase signals the market’s fears that Europe will remain without a diesel that was procured in India, Janiv Shah from Rystad Energy explained.
The United States has not supported a new European package of sanctions, so their implementation should leave numerous ‘holes’.
“The impact of a reduced price limit and sanction for tankers will be limited in our assessment in Europe, due to higher problems in the logistics and transportation should limit the challenges in the implementation of the measures,” said the last Friday Aldo Spanier from BNP Paribas.
On Monday, such a view also prevailed among the merchants who concluded that new European measures “will not necessarily” affect the relationship between supply and demand, explains Harry Tchiliguirian from Onyx Capital Group.
“The Russians have so far shown that it is strongly arguing by these kinds of sanctions,” Tchiliguirian added, and market reaction was moderate on Monday.
The spokesman of the Russian President Vladimir Putin Dmitry Sand, told Friday that Russia has developed resistance to Western sanctions.
Organization of oil exports (OPEC) has published separately that the barrel of the oil basket of its members has increased by $ 1.03, to $ 70.97.
(Vijesti.ba)
