The price of OPEC basket of thirteen crudes stood at $100.04 a barrel

Средняя цена на нефть Urals за период мониторинга с 15 июля 2022 года по 14 августа 2022 года составила $83,06 за баррель, или $606,4 за тонну.

On the other hand, #BRENT has been clinging within the mid $90s/bbl range and having a price ceiling within the $101.35/bbl as the Tiltpoint.

Benchmark futures increased as much as 6.5%, after settling 6.8% higher on Monday.

Brent fell $1.14, or 1.2%, to $97.01 a barrel, WTI was at $91.03 a barrel, down $1.06, or 1.2%.

The price of OPEC basket of thirteen crudes stood at $103.20 a barrel

When Russia invaded Ukraine in March, things went from tightness of supply to impending disaster. Russia, through a complex network of pipelines, is the principal supplier of natural gas to Europe and all petroleum products to Germany. Now it has curtailed normal flows.

Berlin is already under serious pressure after Russia cut flows through Nord Stream 1, the key connector with Europe, which is currently running at just 20 per cent capacity.

The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income

U.S. Rig Count is down 1 from last week to 763, Canada Rig Count is down 2 from last week to 201.

Brent fell 49 cents, or 0.5%, to $99.11 a barrel, WTI fell 50 cents, or 0.5%, to $93.84 a barrel.

The price of OPEC basket of thirteen crudes stood at $101.29 a barrel

For 2023, the forecast for world oil demand growth remains unchanged at 2.7 mb/d, with total oil demand averaging 102.7 mb/d.

The spot price of Brent crude oil averaged $71 per barrel (b) in 2021, and we forecast the Brent price will average $104/b in 2022 and $94/b in 2023.

Russia’s natural gas exports by pipeline to the European Union (EU) and the United Kingdom (UK) declined by almost 40% during the first seven months of 2022 compared with the same period in 2021 and by almost 50% compared with the previous five-year (2017–21) average,