Jakarta, hitclubapk3 Indonesia
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Price
crude oil
The world was stable in trading Wednesday (10/12) after falling by around 1 percent yesterday.Currently, investors are watching progress in peace talks
Russia
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Ukraine
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Market concerns about excess supply exceeding demand have also limited price increases.
The price of Brent crude oil futures rose 11 cents or 0.2 percent to US$62.05 per barrel.US West Texas Intermediate crude oil (US WTI) was at US$58.38 per barrel after rising 13 cents or around 0.2 percent.
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Analysts assess that the oil market is increasingly moving towards a potential oversupply, while supply from Russia is seen as remaining a risk factor.
Russian oil production could start to fall if buyers cannot be found.
“Even though the volume of Russian oil exports via sea is still quite strong, the oil is having difficulty finding buyers,” wrote ING analysts, quoted by Reuters, Wednesday (10/12).
Ukrainian President Volodymyr Zelenskiy and his European partners said they would soon hand over a “refined peace deal document” to the US.The preparation of this document follows a series of intensive diplomacy in the last few days.
A peace deal between Ukraine and Russia could potentially pave the way for the lifting of international sanctions on Russian companies, which in turn could release Moscow’s hitched oil supplies.
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