I oil prices, after the day on Monday, continue to to go up. At 13 the price of European oil, the Brent, is 82,35 dollars a barrel, +1,68% compared to the beginning of the year while the American one (WTI) reached 75,67 dollars per barrel (+2,11%).
I stocks of oil companiesand they are all in positive in global financial markets thanks to the rebound in raw materials and in the wake of the accounts published by the English giant BP. Saipem gains 4,5% on the Stock Exchange and is the best of the Ftse Eb and Tenaris e Eni recorded an increase of more than 1%. The Oil&gas sub-index the Stoxx600 rises by 1% led, as we said, by +5%. BP in London which posted record accounts in 2022 with a net income of $27,7 billion, a dividend of 24 cents and the share buyback plan for $2,75 billion.
THEprice increase of the Petroleum it is derived from various situations. On the one hand it affects the decision of Saudi Aramco di raise prices towards Asian customers, considering that the Iea, the international energy agency, has estimated that about half of the question global oil for this year will come from the recovery in demand from the China. Another factor that contributes to push prices is the stop the oil flows of the Kirkuk-Ceyhan pipeline following the earthquake that hit Turkey yesterday. The pipeline carries more than 450.000 barrels from northern Iraq to the Mediterranean port of Ceyhan in Turkey.
Russia: 25 billion deficit, worst figure since 1998
La lack of revenue from the energy sector – affected by Western sanctions – combined with increased military spending for the war with Ukraine has done to record to the Russia a budget hole of 1.760 billion rubles (25 billion dollars), most big deficit twigs 1998. Compared to January 2022, le tax revenues from oil and gas are dropped by 46% while there was a del% increase 59 of spending due to the war in Ukraine.
Furthermore, the Urals price, which is a blend of Ural, Volga Delta and Siberian crude is traded heavily below the reference price. The average price recorded is $49,48 a barrel, the lowest since December 2020.
cover the deficit the Russian government has stated that it to have sold 3,6 tons of gold and 2,3 billion yuan from the sovereign wealth fund. Putin therefore runs for cover and seems to have asked for a piano, by the end of the month, on how assess the price of Russian oil to offset the negative effect of sanctions on budget revenues.
Meanwhile, the price of fuel is falling
THEEuropean embargo on refined products originating from Russia, which entered into force on 5 February, is part of the latest package of sanctions against Russia. Contrary to what was feared, it did not increase, at the moment, the diesel price that, indeed, registers a decline at service stations. Eni it reduced the suggested price of petrol by 1 cent and that of diesel by two cents. Same intervention also by Tamoil.
Il average price charged of petrol in self mode it's time to 1,873 euros / liter (1,876 the previous figure), while the average price of diesel self and of 1,891 euros / liter (against 1,898). To the served prices still exceed 2 euros per litre, with petrol still at 2,016 euros/litre and diesel at 2,036 euros/litre.
The price of LPG fluctuates between 0,79 and 0,82 while the average price of methane car it lies between 1,960 and 2,219.
