Declining crude stocks, stalled Iran Nuclear deal and Putin’s gas payment requirement sends oil higher. Get your market update from RichardSnowFX here:
Brent crude oil trades higher today off the back of declining oil stock figures, the upcoming OPEC+ meeting and the overall boost to the energy sector resulting from Putin’s announcement to “unfriendly nations” that future gas purchases are to be paid for in Russian Rubles.
prices, it appears to have buoyed the overall energy complex as gasoline, heating oil, natural gas and WTI and Brent crude oil all experiencing higher prices today.Yesterday, the Energy Information Agency published its latest weekly petroleum status report, which covers data up until the 18of March. Most notably, crude oil stocks witnessed a massive decline of 2.508 million barrels when stocks were forecast to see an increase of 0.114 million. US crude oil inventories currently stands at 413.
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