Oil prices rise after Ukraine attacks Russian oil infrastructure
Oil prices rose on Thursday after Ukrainian attacks on Russian oil infrastructure signaled potential supply constraints, and stalled peace talks dampened expectations of a deal restoring Russian oil flows to global markets, although weak fundamentals limited gains.
Ukraine attacked the Druzhba oil pipeline in the Tambov region of central Russia, a Ukrainian military intelligence source said on Wednesday. This was the fifth attack on a pipeline carrying Russian oil to Hungary and Slovakia. The pipeline operator and Hungarian oil and gas companies later said supplies were moving through the pipeline as usual.
The oil price at the time of this analysis is $63.715
- Buy if the price moves within the $63.705 range
- Sell if the price moves within the $63.725 range
Resistance 2: $63.755
Resistance 1: $63.735
Support 1: $63.695
Support 2: $63.683
Disclaimer: This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id