Wednesday, 23 Jul 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • House
  • VIDEO
  • ScienceAlert
  • White
  • Watch
  • Trumps
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Oil inches up on Kazakhstan supply disruption
Economy

Oil inches up on Kazakhstan supply disruption

Last updated: February 17, 2025 10:11 pm
Share
Oil inches up on Kazakhstan supply disruption
SHARE

Brent Crude Oil Prices Rise Following Drone Attack on Pipeline in Russia

By Colleen Howe and Trixie Yap

Brent crude oil prices saw an uptick on Tuesday, building on gains from the previous session after a drone attack on an oil pipeline pumping station in Russia disrupted flows from Kazakhstan. However, the potential for increased supply in the near future tempered the price increase.

Brent crude futures climbed by 15 cents, or 0.2%, reaching $75.37 per barrel at 0454 GMT. Meanwhile, U.S. West Texas Intermediate crude futures rose by 67 cents to $71.41 a barrel.

Market strategist Yeap Jun Rong noted, “The overriding theme driving oil prices lately has been around supply expectations. The drone strike on Kazakhstan’s export pipeline in Russia has provided a catalyst for some bearish sentiment to unwind.”

The drone strike at the Kropotkinskaya station in Russia’s Krasnodar region led to reduced shipments from Kazakhstan to global markets by Western companies such as Chevron and Exxon Mobil, according to the Caspian Pipeline Consortium.

Despite the disruption, the Black Sea CPC Blend oil loading plan for February is expected to remain unchanged, as reported by sources familiar with the plan.

Looking ahead, there are concerns about potential oversupply in the market, as well as uncertainties surrounding demand, particularly from China. Analysts at BMI predict Brent prices to average $76 a barrel in 2025, down 5% from the 2024 average.

OPEC+ producers are not currently considering delaying a series of monthly oil supply increases set to begin in April, according to a report from Russian state media. In December, OPEC had postponed plans to raise output due to weak demand and increased supply from non-OPEC sources.

See also  US places sanctions on Chinese refinery over Iran oil purchases

Market watchers are also keeping an eye on Russia-Ukraine peace talks, with U.S. and Russian officials meeting in Saudi Arabia for discussions. The outcome of these negotiations could have a significant impact on the crude oil market.

Analyst Neil Crosby from Sparta Commodities commented, “There is plenty to be bearish about in the crude market, with the outcome of Ukraine negotiations being a major factor. Russian oil may reenter the market to some extent, but the final result remains uncertain.”

Reporting by Colleen Howe; Editing by Michael Perry and Sonali Paul

TAGGED:disruptioninchesKazakhstanoilSupply
Share This Article
Twitter Email Copy Link Print
Previous Article 6 Ideas for an Valentine’s Day With A Planetary Heart 6 Ideas for an Valentine’s Day With A Planetary Heart
Next Article Eric Adams faces heat — but on one issue, voters have his back Eric Adams faces heat — but on one issue, voters have his back
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Best of Earth911 Podcast: DS Smith’s Wouter van Tol on Seaweed-based Packaging

In a recent interview with Wouter van Tol, head of sustainability at packaging maker DS…

January 15, 2025

BBC’s Death Valley Series 2 Renewal News, Ending and How To Watch Abroad

BBC’s latest detective series, Death Valley, has taken the UK by storm, captivating audiences with…

May 29, 2025

Why disputing a medical bill may help cut your costs

Consumers often feel overwhelmed by their medical bills, believing that they are set in stone…

September 22, 2024

Nature Walks Can Transform Mental Health And Addiction Recovery

Nature has a powerful impact on mental health struggles and addiction recovery. Stepping outside and…

June 2, 2025

Muslim Immigrant Recruited For Jihad in Chicago |

Statea USA, CC BY-SA 4.0 via Wikimedia Commons In a notable case highlighted by CBS…

June 29, 2025

You Might Also Like

The REAL Land of Cockaigne
Economy

The REAL Land of Cockaigne

July 23, 2025
Macrons file US lawsuit over claims France’s first lady was born male
Economy

Macrons file US lawsuit over claims France’s first lady was born male

July 23, 2025
AT&T poised for a Trump One Big Beautiful Bill Act windfall: Opening Bid top takeaways
Economy

AT&T poised for a Trump One Big Beautiful Bill Act windfall: Opening Bid top takeaways

July 23, 2025
Goldman Sachs, BNY introduce money market fund digital tokens
Economy

Goldman Sachs, BNY introduce money market fund digital tokens

July 23, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?