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Oil: prices rise on Monday

13/01/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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On Monday, oil prices soared. They are still reacting to sanctions taken mainly against the Russian energy sector by the American and British governments on Friday.

The barrel of West Texas Intermediate, for delivery in February, took 1.74% to 77.90 dollars. Around 10:20 GMT (11:20 CET), the price of a barrel of North Sea Brent crude, for delivery in March, rose 1.55% to 81.00 dollars. According to John Plassard, an analyst at Mirabaud, the new American sanctions on the Russian oil sector have raised “concerns about disruptions in the global supply” of crude. In total, OPEC+ maintains an untapped capacity of nearly 6 million barrels of oil per day, which contributes to its strategy of reducing supply to maintain higher prices on the

markets.
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