World crude oil prices rose around $3 after the EIA reported US crude inventories dropped to their lowest in more than three years as the Russia-Ukraine conflict. In addition, OPEC Plus is expected to maintain a plan to increase production. will be positive for the direction of energy
The movement of foreign crude oil prices as of March 31, 65 has been changed according to the types of references as follows:
• West Texas (WTI) was $107.82/barrel, up $3.58, or 3.32%.
• Brent was $113.45/barrel, up $3.22, or 2.84%.
Analysts of Thai Oil Public Company Limited revealed that crude oil prices increased. After the US Energy Information Administration (EIA) reported the number of US crude inventories. For the week ending March 25, it fell to its lowest level since September 2018, dropping 3.4 million barrels to 410 million barrels, a drop more than analysts had expected. decreased by 1.0 million barrels, reflecting the continued tight market conditions.
The conflict between Russia and Ukraine has also raised concerns among investors about the new round of sanctions against Russia. After the Russian forces continued their attack on the outskirts of Kiev. Russia has previously vowed to downgrade its operations, while the United States has warned that Russia may send supplies and equipment to keep soldiers in the war.
The market is keeping an eye on the upcoming OPEC Plus meeting on March 31, where the group is likely to stick to the original deal. By adjusting oil production in May, slightly increased to 432,000 barrels per day from 400,000 barrels per day since Aug. 21, although many countries pressured the group to increase production more to slow down. hot
