Russian oil shipments stop, prices move

Russia reported that it stopped oil shipments to Hungary, Czechia and Slovakia via the southern leg of the Druzhba pipeline due to a payment problem with Ukraine oil pipeline operator Ukrtrasnafta.

According to sources familiar with the matter, Russian oil company Transneft has suspended oil exports from the southern leg of the Druzhba pipeline due to the problem with transit payments.

Sources state that Transneft was unable to send payments to Ukrainian operator Uktransnafta.

Brent oil on the rise

The barrel price of Brent oil in ICE increased by $ 1.05 compared to yesterday and reached $ 97.8, with the news from Druzhba that the flow of Russian oil stopped.

The expectation that Iranian oil could soon return to international markets caused the price of Brent oil to drop to $94 a barrel on ICE this morning.

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