NEW YORK / LONDON (dpa-AFX) – Oil prices changed little on Thursday. Around noon, a barrel (159 liters) of North Sea Brent for delivery in May cost 82.69 US dollars. That was three cents more than the day before. The price of a barrel of American grade West Texas Intermediate (WTI) for delivery in April remained at $76.66.
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The impulses on the crude oil market were rather small over the course of the day. Weekly inventory data from the US released on Wednesday, which brought with it the first decline in inventories this year, did not move prices significantly either. The same applies to the recent statements by US Federal Reserve Chairman Jerome Powell, who confirmed the possibility of higher interest rate hikes to combat inflation.
According to experts at the British analyst firm S&P Global, Russia can maintain oil production longer than many expected, despite sanctions from Western countries. A decline in Russian oil production is to be expected, S&P Global expert Dan Yergin on Bloomberg TV. The “dramatic crash” expected by many will not happen./jkr/jsl/stk