Price movements
By 14:18 GMT, crude futures were down Brent Nine cents to $74.14 a barrel.
US West Texas Intermediate crude futures fell by three cents to $70.07 per barrel.
The two benchmarks are heading to achieve weekly gains of about four percent, with Russia intensifying its campaign in Ukraine after it allowed… US andBritain For Kiev to strike the Russian depth with weapons provided by the two countries.
The Tengiz oil field, Kazakhstan’s largest field, is scheduled to return to full production capacity in early December, while the Kazakh Ministry of Energy said it intends to produce 90 million tons of oil in 2025, up from 88 million tons in 2024.
The Kremlin said on Friday that the strike directed at Ukraine using a newly developed hypersonic ballistic missile was a message to the West that… Moscow It will respond forcefully to any “reckless” Western support measures Ukraine.
Ukraine has used drones to target Russian oil infrastructure when, for example, it launched long-range drones to strike four Russian refineries in June.
“What the market fears is accidental destruction in any part of the oil, gas and refining network, which will not only cause long-term damage, but will accelerate the spiral of war,” said analyst John Evans of BVM.
Yesterday, Thursday, China, the world’s largest crude importer, announced policy measures to boost trade, including supporting imports of energy products, amid concerns about US President-elect Donald Trump’s threats to impose customs duties.
Expectations of analysts, traders, and ship tracking data indicate that China will import For oil Crude is expected to increase in November.
