Oil prices rose by more than $1 on Tuesday, after falling earlier, after Russia said that oil exports to Europe through the southern part of the Druzhba pipeline had been suspended since early August, reviving concerns about a supply shortage.<\/p>\n\n\n\n
Russia’s pipeline monopoly Transneft said Ukraine had suspended the flow of oil through the pipeline because Western sanctions had prevented Moscow from paying transit fees.<\/p>\n\n\n\n
Brent crude rose $1.42, or 1.5 percent, to $98.07 a barrel at 1113 GMT, after falling earlier to $94.90. US West Texas Intermediate crude also rose $1.01, or 1.1 percent, to $91.77.<\/p>\n\n\n\n
This development related to Druzhba’s pipeline comes at a time when supply concerns have been waning amid growing concern about a recession. Earlier, oil came under pressure in connection with talks to revive the Iran nuclear deal that would allow for an increase in Iranian oil exports.<\/p>\n\n\n\n
Oil prices rose earlier in the year after Russia’s invasion of Ukraine heightened supply concerns, sending Brent crude to $139 in March, close to an all-time high.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices rose by more than $1 on Tuesday, after falling earlier, after Russia said that oil exports to Europe through the southern part of the Druzhba pipeline had been suspended since early August, reviving concerns about a supply shortage. Russia’s pipeline monopoly Transneft said Ukraine had suspended the flow of oil through the pipeline …<\/p>\n","protected":false},"author":9,"featured_media":53016,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[8159,7004],"class_list":["post-69827","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-crude-oil-prices","tag-opec-2"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=69827"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69827\/revisions"}],"predecessor-version":[{"id":69828,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69827\/revisions\/69828"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53016"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=69827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=69827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=69827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}