The barrel price of Brent oil, which rose to $ 133.15 yesterday, completed the day at $ 127.98. The barrel price of Brent oil rose to $131.12 as of 09:57, an increase of 2.45 percent compared to the closing date. In the same minutes, West Texas type crude oil found buyers at $126.16 a barrel.
US President Joe Biden announced yesterday that the US has banned oil, liquefied natural gas (LNG) and coal imports from Russia.
In a statement made by the White House, it was stated that the US is also prohibited from new investments in Russia's energy sector, and that Americans will not be allowed to finance or facilitate foreign companies investing in energy production in Russia.
Kwasi Kwarteng, the British Minister of Labor, Energy and Industrial Strategy, announced on his Twitter account that his country will phase out imports of Russian oil and petroleum products by the end of this year.
British Prime Minister Boris Johnson also announced on Twitter that the UK will move away from dependence on Russian oil this year and expand the heavy international economic sanctions package.
The Japanese government, which expanded the economic sanctions package for the business world with the Russian and Belarusian government, also stopped the export of oil refinery equipment to Russia.
Shell announced yesterday that it will gradually withdraw from its participation in all Russian hydrocarbons, including crude oil, petroleum products, natural gas and LNG. The company stated that as a first step, it will stop all spot purchases of Russian crude oil and will also close service stations, aviation fuels and lubricants operations in Russia.
"We may face the most important oil supply shortage"
Bjornar Tonhaugen, Director of Petroleum Markets at Rystad Energy, a Norway-based independent research organization, said that although the ban has a limited impact on the US oil supply, oil prices have risen as it could make Russian oil trade more difficult and other countries may follow the same path.
Tonhaugen stated that the volatility in the markets is the opposite of the price collapse caused by the epidemic in 2020, as the deepening supply concerns raise prices.
Stating that Russia exports approximately 4.8 million barrels of crude oil per day, Tonhaugen said, "1.4 million barrels of oil produced in the former Soviet countries, especially Kazakhstan, are exported through Russia. "The United Kingdom imported 1,000 barrels of crude oil, less than half that. The United States imports about 500,000 barrels of petroleum products a day from Russia for its refineries. This will no longer be possible and refineries will have to procure their raw materials from elsewhere." said.
Noting that the OPEC+ group has a spare crude oil capacity of approximately 4 million barrels per day, but they are not expected to increase production yet, Tonhaugen said, "If additional production does not come from the OPEC+ group, we may face the most important oil supply problem since the 1990 Gulf War." used the phrase.
It is stated that technically, the range of 131.96 and 134.58 dollars in Brent oil can be followed as resistance, and the range of 129.34 and 126.72 dollars as support.
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