Europe laughs and the euro achieves the largest gain in 5 months against the dollar. Oil returns to decline – markets in one minute

Oil falls as investors await Druzhba’s pipeline

Oil circulation is declining, at a time when attention is focused on the suspension of the circulation of this raw material in the southern arm of the Druzhba pipeline, which passes through Ukraine and serves Europe.

The dispute revolves around the impossibility of the Russian company Transneft to pay a transit tax to the Ukrainian company that controls the infrastructure.Because of the sanctions imposed by the European Union on Moscow.

Thus, this action leaves three countries: Hungary, Slovakia and the Czech Republic without access to “black gold” through this pipeline. Under normal conditions, Russia supplies about 250 thousand barrels of oil through the infrastructure.

In London, Brent North Sea crude, the benchmark for European imports, fell 0.69% to $95.65 a barrel.

Indeed, the US “standard” West Texas Intermediate (WTI) fell 0.84% ​​to $89.74 a barrel, below the $90 level. US crude hit a six-month low, with indications of declining demand for gasoline in the country.

The gas, which is traded in Amsterdam and a benchmark for Europe, is increasing by 0.77% to €196.5 per megawatt-hour (MWh), at a time when many countries are reducing consumption of this raw material in anticipation of a winter when natural gas levels will rise. be lower than usual.