The largest oil market in the USA responds to sanctions threats.
16.01.2025
2306
Journalist
Shostal Oleksandr
16.01.2025
2306
The situation in the oil market along the Gulf Coast in the USA is undergoing changes that are impacting the usual price patterns. Currently, prices for low-grade heavy oil, which has typically been cheaper than light crude oil, are rising due to concerns about potential oil sanctions against Russia and Iran.
According to Bloomberg, the price difference between high-quality oil from the Permian Basin and heavy sour Canadian oil from Cold Lake has narrowed following the tightening of sanctions against Russia and control over supplies from Iran. Previously, this difference was $4.25.
Fuel producers along the Gulf Coast are forced to change their oil procurement strategies due to the sharp decline in prices.
Read also
- The Difference of 9 Hryvnias per Liter for 95: Drivers Shocked by Price Variation at Gas Stations in Kyiv Region
- The end of April will bring a cold snap: forecasters warned about rain and a drop in temperature
- In Ukraine, the abolition of Soviet traditions has begun: what has been prohibited in Lviv and why it is important
- Ruble Against Dollar: How Central Asia is Profiting - An Analysis
- The Deposit Guarantee Fund reported how much money is kept in the accounts of Ukrainians
- Zelensky Told Shapiro About Putin's Ambitions, International Coalition Against Ukraine and the USA, and the Future of Russia
