News about Oil

Crude oil on the world markets traded in multidirectional quotes all week, but maintaining rather high prices and reacting nervously to geopolitical challenges. Before the weekend, the price of the main brand Brent consolidated above $71 per barrel and indicated clear intentions for further growth.

Budapest and Belgrade have decided not to wait for the resumption of Druzhba and have moved on to the active phase of a joint energy project to build an oil pipeline to pump Russian oil bypassing Ukraine, Logos Press reported.

The price of oil has hit a multi-month high, driven by active US preparations for military action against Iran despite ongoing talks between the countries, Logos Press reported.

Hungary and Slovakia announced Wednesday that they have suspended diesel exports to Ukraine amid growing tensions over oil supplies, Logos Press reported.