Oil holds steady – ING
|Oil prices are trading almost flat this morning as the market has been caught between escalating geopolitical tensions and not particularly supportive fundamentals, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil loadings at Russia’s Primorsk Port have resumed
"The market participants are waiting for any further developments regarding the potential of further Western sanctions on Russian supplies against a looming supply surplus expectation. There are suggestions that the European Union is considering sanctions on companies in India and China that enable Russia’s oil trade as part of an upcoming package of fresh restrictions."
"Meanwhile, recent reports suggest that oil loadings at Russia’s Primorsk Port have resumed after Friday’s drone attacks on the facility by Ukraine."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.