EnergyPre-market
Two oil tankers with 1.5 million barrels idle at sea
pre-market1 source ↓written by the desknot a recommendation
- of Russian Urals
- 1.5 million barrels
- of global oil
- 5%
Two oil tankers, Sikar and Monte 1, carrying 1.5 million barrels of Russian Urals crude, have been idling near the Suez Canal for over a week. This comes amid heightened sanctions from the US and EU targeting major Russian oil producers, Rosneft and Lukoil, which together account for 5% of global oil supply.
The sanctions aim to curb Russia's oil revenue, potentially impacting global oil prices and supply chains. Traders should monitor developments closely as these restrictions may lead to further volatility in oil markets.
Not investment advice. For informational purposes only.