Jakarta, hitclubapk3 Indonesia
—
Price
crude oil
the world strengthened in trading Monday (22/12) after
United States
(US) intercepted a tanker
Venezuela
last weekend.
This is the second Venezuelan ship seized by the US.These geopolitical developments have reignited market concerns regarding potential global supply disruptions.
Quote
Reuters
, the price of Brent oil futures contracts rose 44 cents or 0.73 percent to US$60.91 per barrel.Meanwhile, US West Texas Intermediate (WTI) crude oil rose 40 cents or 0.71 percent to US$56.92 per barrel.
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The increase in oil prices was triggered by a series of geopolitical developments in the last few days.IG analyst Tony Sycamore said market sentiment had changed since US President Donald Trump announced a total blockade of sanctioned Venezuelan oil tankers.
In addition, reports of Ukrainian drone attacks on Russian shadow fleet ships in the Mediterranean Sea have added to geopolitical tensions.This condition is considered to reduce hopes of achieving a Russia-Ukraine peace agreement in the near future.
“Markets are starting to lose hope that US-mediated Russian-Ukrainian peace talks will produce a lasting agreement any time soon,” Sycamore said.
According to him, this development helped withstand pressure from concerns over global oil supply.Technical factors also play a role after last week’s price movement was assessed as a pseudo decline.
Last week, Brent and WTI prices each fell by around 1 percent, after falling by around 4 percent in the previous week.This decline reflects market concerns about the abundance of world oil supplies.
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