Jakarta, hitclubapk3 Indonesia
—
Oil prices
strengthened again at the start of trading Tuesday (2/12), continuing the previous session’s rise, amid increasing geopolitical risks that threaten global supply.
Market players are watching the impact of Ukraine’s drone attack on Russian energy facilities as well as worsening relations between the United States and Venezuela.
Quote
Reuters,
Brent oil prices rose 14 cents or 0.2 percent to US$63.31 per barrel.Meanwhile West Texas Intermediate (WTI) rose 18 cents or 0.3 percent to US$59.50 per barrel.
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Both price benchmarks previously jumped more than 1 percent in Monday’s trading.
Russia’s oil supplies were again affected after the attack
drones
massively on November 29.The Caspian Pipeline Consortium (CPC) said on Monday that oil deliveries from one of its Black Sea terminal mooring points had resumed.
However, the Kommersant daily report stated that SPM 2 was damaged, while delivery was carried out via SPM 1.
“The military situation reinforces our view that a peace agreement is unlikely to be reached any time soon, and the diesel/gasoil market could potentially push oil prices up again,” Ritterbusch and Associates analysts wrote in a research note.
On the diplomatic route, Ukrainian President Volodymyr Zelenskiy emphasized that Kyiv’s priority is to maintain sovereignty and obtain strong security guarantees, while territorial disputes remain the most complicated issue.US envoy Steve Witkoff is scheduled to brief the Kremlin on Tuesday.
From South America, market concerns are increasing as the US pressure campaign against Venezuela expands.ANZ said rising tensions could further disrupt the country’s oil exports.
US President Donald Trump even said the airspace over and around Venezuela was completely closed, although without providing details.
Last week, OPEC+ reiterated plans for a small output increase for December and postponed an increase in the first quarter of next year due to concerns about a potential supply glut.
“Fundamentals ultimately remain dominant. We still see a weakening global balance sheet potentially pushing oil prices towards US$55 for WTI and US$59 for Brent,” added Ritterbusch.
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