OIL PRICE: BRENT ABOVE $105, WTI NEAR $102
Vladimir Vinogradov
WOGNEWS.NET, Global Energy Market Climate Changes News. Новости мирового энергетического рынка, изменений климата.
Brent rose 67 cents, or 0.6%, to $105.66 a barrel. WTI gained 44 cents, or 0.4%, to $102.14 a barrel.?
Crude prices settled about 3% higher on Tuesday in volatile trade as the market is torn between supply and demand concerns over Russian oil and gas disruption and a worsening global economic outlook.?
Russian energy giant Gazprom (GAZP.MM) said on Wednesday it has completely halted gas supplies to Bulgaria and Poland due to absence of payments from the countries in roubles for the fuel delivery, in a major escalation of Russia's broader row with the West over its invasion of Ukraine, which Moscow calls a "military operation".
The row sent NYMEX ultra-low-sulfur diesel futures up more than 9% on Tuesday to settle at $4.47 a gallon, a record close.
China's central bank said on Tuesday it will step up prudent monetary policy support to its economy as Beijing races to stamp out a nascent COVID-19 outbreak in the capital and avert the same debilitating city-wide lockdown that has shrouded Shanghai for a month. Any stimulus would boost oil demand.?