
Oil prices fell sharply on February 2 as concerns about US military action in Iran subsided and nuclear talks appeared close. The US and India also agreed a trade deal that lowers US tariffs on Indian goods and ends the extra tariff tied to Indian purchases of Russian oil.
The analysts expect this to increase the volume of Russian crude available at sea.
Lower tariffs and a possible drop in Indian purchases of discounted Russian crude could push more Russian oil into the market and widen the Urals discount. That would weigh on global crude prices and could eventually force Russian output cuts.
Na 56 eerdere neerwaarts handel-gebeurtenissen bewoog Ruwe olie (Brent) zich mediaan -5,6% over 5 sessies (20% hoger; middelste helft -9,0% tot -1,7%), en -4,5% over 20.
Na 80 eerdere neerwaarts handel-gebeurtenissen bewoog Ruwe olie (WTI) zich mediaan -2,2% over 5 sessies (30% hoger; middelste helft -6,9% tot +0,8%), en -1,5% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
ING attributes the Feb 2 oil drop to fading fears of US military action in Iran, and the US-India deal could raise Russian crude supply at sea.