Could the fact that Russia's largest oil port in the Black Sea is almost silent because of the risk of UAVs could trigger a new supply shock in the global energy market?
The oil and gas market today focused on information about a clear decline in activity at Russia's largest oil export port in the Black Sea as the risk of drone attacks increases. This development raises concerns about the possibility of disrupting Russian oil transportation, increasing marine insurance costs and creating more pressure on the international energy supply chain.
Although geopolitical risks continue to be high, oil futures contracts have simultaneously adjusted downward. WTI was at $89.31 per barrel, down 3.12 percent. Brent was at $96.78 per barrel, down 3.88 percent. Murban plummeted 9.44 percent to $97.05 per barrel. WTI Midland reached $91.04 per barrel, down 3.36 percent. Mars alone increased 8.89 percent to $110.47 per barrel.
Main energy price list
Product Current Price Fluctuating
WTI Crude $89.31 per barrel Down 3.12 percent
Brent Crude 96.78 USD per barrel Down 3.88 ppum
Murban Crude $97.05 per barrel Down 9.44 percent
WTI Midland $91.04 per barrel Down 3.36 percent
Mars $110.47 per barrel Up 8.89 percent
OPEC Basket $102.76 per barrel Up 8.71 percent
DME Oman $97.50 per barrel Up 9.27 percent
Mexican Basket $91.68 per barrel Up 13.35 percent
Indian Basket $103.33 per barrel Up 10.88 percent
Urals 84.26 USD per barrel Up 4.37 percent
Western Canadian Select $79.84 per barrel Up 7.20 percent
Dubai $80.11 per barrel Up 3.13 percent
Brent Weighted Average $99.24 per barrel Up 5.61 percent
Louisiana Light $90.16 per barrel Up 1.83 percent
Domestic Sweet at Cushing $88.67 per barrel Up 6.43 percent
Giddings $82.42 per barrel Up 6.96 percent
ANS West Coast $83.61 per barrel Up 4.38 percent
Gulf Coast HSFO $71.71 per barrel Up 1.47 percent
Oil prices of OPEC members and the Middle East
Type of oil Current price Volatility
Arab Light $88.49 per barrel Up 3.14 percent
Kuwait Export Blend $94.71 per barrel Unchanged
Das $104.18 per barrel Up 12.40 percent
Umm Lulu $104.83 per barrel Up 12.31 percent
Upper Zakum $96.41 per barrel Up 7.83 percent
Qatarr Land $103.88 per barrel Up 12.44 percent
Al Shaheen $96.41 per barrel Up 7.83 percent
Basrah Heavy $65.82 per barrel Up 2.28 percent
Basrah Medium $68.12 per barrel Up 2.21 percent
Arab Extra Light $88.99 per barrel Up 3.12 percent
Arab Heavy $85.39 per barrel Up 3.25 percent
Arab Medium $86.74 per barrel Up 3.20 percent
Oil prices in Australia, Africa and the Caspian region
Type of oil Current price Volatility
Cossack $94.95 per barrel Up 2.42 percent
NWS Condensate $92.75 per barrel Up 2.47 percent
Ichthys Condensate $98.05 per barrel Up 2.34 percent
Cabinda $92.55 per barrel Up 2.48 percent
Nemba $90.75 per barrel Up 2.53 percent
Dalia $91.15 per barrel Up 2.52 percent
Brass River $92.30 per barrel Up 2.49 percent
Via Iboe $93.30 per barrel Up 2.46 percent
Sokol $86.47 per barrel Up 0.61 percent
Azeri Light $104.30 per barrel Up 2.19 percent
CPC Blend $96.20 per barrel Up 2.38 percent
Lula $92.23 per barrel Up 1.02 percent
Iranian oil prices according to the delivery market
Type of oil Current price Volatility
Iran Light delivered to Northwest Europe $96.94 per barrel Up 5.75 percent
Iran Heavy delivered TNorthern Europe 95.04 USD per barrel Up 5.87 percent
Forozan Blend delivered to Northwest Europe $95.29 per barrel Up 5.85 percent
Iran Light Mediterranean delivery $96.29 per barrel Up 5.79 percent
Iran Heavy Mediterranean delivery $94.14 per barrel Up 5.93 percent
Forozan Blend Mediterranean delivery $94.39 per barrel Up 5.91 percent
Soroosh $91.14 per barrel Up 6.14 percent
Iran Light delivered Sidi Kerir $98.19 per barrel Up 5.67 percent
Iran Heavy delivered Sidi Kerir $96.04 per barrel Up 5.81 percent
Forozan Blend delivered Sidi Kerir $96.29 per barrel Up 5.79 percent
Iran Light delivered to South Africa $96.94 per barrel Up 5.75 percent
Iran Heavy delivered to South Africa $95.04 per barrel Up 5.87 percent
Forozan Blend delivered to South Africa $95.29 per barrel Up 5.85 percent
Mexican and South American oil prices
Type of oil Current price Volatility
Oriente Crude $87.36 per barrel Up 4.09 percent
Napo Crude $75.39 per barrel Up 4.77 percent
Maya delivered US Gulf Coast $76.24 per barrel Up 6.42 percent
Isthmus delivered US Gulf Coast $87.12 per barrel Up 6.73 percent
Olmeca delivered US Gulf Coast $88.95 per barrel Up 7.48 percent
Maya delivered US West Coast $76.04 per barrel Up 6.44 percent
IsthmusUS West Coast delivery 84.82 USD per barrel Up 6.93 percent
Maya Far East delivery $82.41 per barrel Up 6.94 percent
Isthmus Far East delivery $83.01 per barrel Up 6.89 percent
Canadian oil prices
Type of oil Current price Volatility
Central Alberta $84.04 per barrel Up 6.81 per cent
Light Sour Blend $84.44 per barrel Up 6.78 percent
Peace Sour $84.19 per barrel Up 6.80 percent
Syncrude Sweet Premium $88.69 per case Up 6.43 percent
Sweet Crude $86.44 per case Up 6.61 percent
US High Sweet Clearbrook $90.34 per barrel Up 6.31 percent
Midale $84.69 per barrel Up 6.76 percent
Albian Heavy Synthetic $91.69 per barrel Up 6.21 percent
Access Western Blend $91.29 per barrel Up 6.24 percent
Oil prices in the US
Type of oil Current price Volatility
Arkansas Sweet $76.50 per case Up 4.79 percent
Arkansas Sour $75.00 per barrel Up 4.90 percent
Arkansas Extra Heavy $70.00 per barrel Up 5.26 percent
West Texas Sour $87.67 per barrel Up 6.51 percent
West Texas Intermediate spot $88.67 per barrel Up 6.43 percent
Upper Texas Gulf Coast $82.42 per barrel Up 6.96 percent
Texas Gulf Coast Light 82.42 USD per Ton barrelg 6.96 percent
South Texas Sour $75.92 per barrel Up 7.60 percent
North Texas Sweet $90.00 per barrel Up 6.82 percent
Eagle Ford $88.67 per barrel Up 6.43 percent
Texas Upper Gulf Coast $83.75 per barrel Up 7.37 percent
South Texas Light $83.75 per barrel Up 7.37 percent
West Texas and New Mexico Intermediate $90.00 per barrel Up 6.82 percent
West Central Texas Intermediate $90.00 per barrel Up 6.82 percent
East Texas Sweet $87.25 per barrel Up 7.06 percent
Oklahoma Sweet $90.00 per barrel Up 6.82 percent
Oklahoma Sour $78.00 per barrel Up 7.96 percent
Western Oklahoma Sweet $89.25 per case Up 6.89 percent
Oklahoma Intermediate $89.75 per barrel Up 6.85 percent
Wyoming General Sour $85.25 per barrel Up 6.02 percent
Wyoming General Sweet $85.77 per barrel Up 9.28 percent
Colorado Southeastern $79.17 per barrel Up 6.11 percent
Nebraska Sweet $79.97 per case Up 10.02 percent
Michigan Sour $82.00 per barrel Up 7.54 percent
Michigan Sweet $86.75 per barrel Up 7.10 percent
Delhi and North Louisiana $87.00 per barrel Up 7.08 percent
South Louisiana $88.50 per barrel Increase 6.95 percent
Kansas Common $79.02 per barrel Up 10.15 percent
Northwest Kansas Sweet $80.17 per barrel Up 9.99 percent
Southwest Kansas Sweet $80.67 per barrel Up 7.83 percent
Prices for gas and related energy products also weakened. US natural gas was $2.871 per million BTU, down 1.54 percent. Gasoline futures are at $3.396 per gallon, down 2.87 percent. Heating oil was $4.181 per gallon, down 3.71 percent. European TTF gas was $20.66 per million BTU, down 1.36 percent. Japanese and Korean benchmark LNG was $21.83 per million BTU, down 0.80 percent.
The most notable point is the strong differentiation between the futures market and spot oil prices by region. While WTI, Brent and Murban fell sharply, many Middle Eastern, Mexican, Canadian and US oils rose from 6 to more than 13 percent. This reflects differences in update times, delivery conditions, oil quality, transportation costs and supply risk levels in each region.
The risk of disruption to Russian oil ports in the Black Sea is becoming an important variable. If export activity continues to decline, the market may face higher freight costs, extended delivery times and discount rates.Russia's oil pool shrinks. On the contrary, if maritime security is soon controlled, speculative pressure may decrease and international oil prices will continue to adjust after a period of hot growth.
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