Slightly upward oil, declines strongly (-17%) gas

LAST UPDATE: 17.45

International oil prices are on the rise on Thursday, after the biggest daily “dip” in the last quarter recorded yesterday, as the effects of the Russian invasion of Ukraine continue to cause a crunch in a “panicked” market.

The global benchmark, Brent oil delivery in Mayincreased by 1.49%, to $ 113.15 per barrel, while American WTI crude delivery in April is moving at 1.05%, at $ 109.75 a barrel.

Brent hit $ 139 a barrel this week to fall to $ 105.

Oil fell on Wednesday as the United Arab Emirates called on the OPEC + group to increase production faster, although the country’s energy minister appeared to soften that message a few hours later.

The cartel, which sees Russia as a key member, has resisted calls from consumers to pump more oil, arguing that rising prices are due to geopolitical tensions despite a lack of supply.

“OPEC + will have to overcome many obstacles to agree to deviate from the current roadmap,” analysts said, describing the market as “panicked”.

Oil rallied this week at its highest level since 2008, in part because of fears that the loss of Russian flows could exacerbate problems in an already tight market.

Prices also rose as the US decided to ban imports, which, if followed by other Western countries, could push prices to $ 240 a barrel.

The leaders of OPEC and Chevron Corp. say there is no shortage of oil, while Iraq has insisted that there is no need to increase production more than expected.

The price of natural gas is falling

European gas prices were earlier found to fall by up to 10%, with Russian flows to Europe remaining stable, according to Bloomberg.

In particular, the Dutch futures contract, a benchmark for the European market, falls by 17.17% to 129,105 euros. The corresponding British contract also falls by 16%.