Brent is the most important type of oil for Europe. The WTI variety comes from the USA.
(Photo: dpa)
Zurich, Berlin Geopolitics continues to have a grip on the oil market: Reports of a rapprochement between Russia and Ukraine in their negotiations in Turkey caused oil prices to fall significantly. The price of European Brent oil fell at times by more than six percent to $103 per barrel (around 159 liters). The US variety WTI temporarily fell below the $100 per barrel mark. On Tuesday, Russia announced, among other things, that it would reduce the number of its troops near Kyiv.
However, the oil price is still at a high level – also because the alliance of state oil exporters “Opec plus” continues to keep production tight. Shortly before the next Opec-plus summit on Thursday, representatives of the Gulf States dampened hopes of a rapid expansion in oil supply.
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