U.S. commercial oil inventories (excluding strategic reserves) decreased by 9.2 million barrels, or 2.1%, to 420.7 million barrels in the week ended January 19. This was reported by RIA News.
The publication notes that analysts at the DailyFX portal expect reserves to decrease by only 2.2 million barrels.
Before this, the conflict in the Red Sea due to Houthis’ attacks on ships, to start It affects the transportation of oil. Reuters states that tankers, which previously carried 12% of the world’s seaborne oil, continue to pass through the Suez Canal, but now the situation has changed.
Since major logistics companies began sending container ships around Africa, only a third of normal container traffic passes through the canal each day. According to journalists, a trend is already visible: Russia’s share in supplies to China and India in the last two months has fallen from 20% to 18%, and the Saudi share has increased from 15% to 16%. The publication concluded that this could cause a dispute between Russia and Saudi Arabia that would shake the unity of OPEC, as happened in 2020.
Previously recognizedWhen oil prices fall to $50 per barrel.