2025-03-19 07:00:00
OIL PRICE: BRENT ABOVE $70, WTI ABOVE $66
REUTERS - March 19, 2025 - Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump's proposal that Moscow and Kyiv stop attacking each other's energy infrastructure temporarily, which could lead to more Russian oil entering global markets.
Brent crude futures fell 19 cents, or 0.3%, to $70.37 a barrel by 0420 GMT. U.S. West Texas Intermediate crude (WTI) was down 20 cents, or 0.3%, to $66.70.
Russian President Vladimir Putin agreed on Tuesday to stop attacking Ukrainian energy facilities but stopped short of endorsing a full 30-day ceasefire that Trump hoped for.
"The agreement marks a positive step towards an eventual resolution, with the halt of attacks on Ukrainian energy facilities reducing further oil supply disruption risks and keeping oil prices under some pressure," said Yeap Jun Rong, market strategist at IG.
Russia is one of the world's top oil suppliers, but its output has waned since the beginning of the war, which resulted in sanctions on Russian energy.
A potential ceasefire could lead to an easing of sanctions, which might raise oil supply and ease prices, analysts said.
U.S. tariffs on Canada, Mexico and China have raised recession fears, which also weighed on oil prices as that would have a dampening effect on demand for crude.
Oil markets remain focused on price downside despite rising Middle East tensions, Goldman Sachs analysts said in a note on Wednesday.
"Tariff escalation and high spare capacity skew the medium-term risks to our forecast to the downside," the analysts said.
Trump vowed to continue his country's assault on Yemen's Houthis and said he would hold Iran responsible for any attacks carried out by the group that has disrupted shipping in the Red Sea.
Israeli air strikes in Gaza, meanwhile, killed at least 200 people, Palestinian health authorities said, which ended a week-long ceasefire and elevated risks of oil supply being threatened from the broader region.
U.S. crude oil stocks data, meanwhile, painted a mixed picture, with crude stocks rising while fuel inventories fell.
Crude stocks were up 4.59 million barrels in the week ended March 14, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories fell by 1.71 million barrels and distillate stocks were down 2.15 million barrels, they said.
Official government data is due on Wednesday.
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Earlier:
2025, March, 13, 07:00:00
OIL PRICE: BRENT NEAR $71, WTI ABOVE $67
Brent fell 5 cents to $70.9 a barrel, WTI shed 10 cents to $67.58 a barrel.
2025, March, 13, 06:55:00
OPEC+ OIL PRODUCTION WILL UP
Furthermore, the eight countries reiterated their collective commitment to full conformity with the additional voluntary production adjustments as agreed under the 53rd JMMC meeting on April 3, 2024. T
2025, February, 27, 07:00:00
OIL PRICE: BRENT NEAR $73, WTI NEAR $69
Brent rose 24 cents or 0.33% to $72.77 a barrel, WTI were up 18 cents or 0.26% at $68.80 per barrel.
2025, February, 20, 07:00:00
OIL PRICE: BRENT NEAR $76, WTI NEAR $72
Brent were down 22 cents, or 0.29%, at $75.82 a barrel, WTI dropped 30 cents, or 0.42%, to $71.95.
2025, February, 20, 06:50:00
U.S. ENERGY DOMINANCE
To compete globally, US must expand energy production and reduce energy costs for American families and businesses.
2025, February, 20, 06:45:00
BRAZIL, OPEC COOPERATION
OPEC welcomes the decision approved today by the National Energy Council of the Federative Republic of Brazil (CNPE) that formally paves the way for the participation of Brazil as a Member of the Charter of Cooperation (CoC) between oil producing countries.
2025, February, 13, 07:00:00
OIL PRICE: BRENT ABOVE $74, WTI NEAR $71
Brent were down 68 cents, or 0.9%, at $74.50 a barrel, WTI dropped 65 cents, or 0.9%, to $70.72.
2025, February, 13, 06:55:00
ПОСТАВКИ РОССИЙСКОЙ НЕФТИ
Россия не откажется от своих соглашений с дружественными странами.