The price of oil goes with the dominance of geopolitical fear before the OPEC+ meeting

Oil prices have stabilized after closing at their highest level in a month, where investors evaluate geopolitical risks, including the possibility of US sanctions to escalate Russia, before the OPEC+ meeting on supplies. The price of the global measurement of Brent stabilized near $ 69 a barrel, after it rose by more than 1% on Tuesday, while the price of Western Texas -Tuss -entry fell below $ 66. President Donald Trump said he carefully monitored how Russian President Vladimir Putin made the efforts to hold a meeting in the Ukrain’s incident, and indicated that he studied it. At the same time, the US president said he was not considering reducing customs duties on India, a week after Washington doubled the customs duties on most of its land up to 50% as a penalty for buying Russian oil. This step – which has not been complied with by a similar action against China and another major importer, is part of a broader attempt to force Moscow to end the fighting in Ukraine. The tightening of sanctions against Russia dominates the market and thinks that the price of crude oil rose in early September after the decline last month, amid the fear that the global market is heading for a transfer registration, with OPEC+ dilution of supplies. The coalition, which includes Russia, will meet over the weekend, and most analysts and traders expect the coalition to keep its production unchanged for the month of October and thus stop a long range of increases. You may also be interested in: Bloomberg poll: OPEC+ is on its way to stabilize oil production at the next meeting, Warren Patterson, head of the NV commodity strategy group, said: “The risk of offering, which is still the possibility of sharpening the sanctions on Russia, is still shading on the oil market.” Since the production of OPEC+ is expected to keep the production of OPEC+ at the end of this week, he said: “It allows the coalition a room for the market surprise.” Ukrainian strikes affect Russian refineries In addition to the best on the scene, US Customs duties followed the impact of the Ukrainian strikes on energy infrastructure in Russia, including refineries. South America was also the focus of attention, with the deployment of American warships on the coast of Venezuela in a clear campaign to combat drug smuggling. Venezuelan President Nicholas Maduro said US efforts are aimed at seizing crude oil in the country. Also read: Ukraine has bombed Russian oil refineries, and Patterson van Ing said that the ongoing Ukrainian attacks with drones on Russian refineries will provide “some support”, although the low operating figures of refineries will mean more crude oil exports. In the latest transactions, Brent -Ru contracts fell 0.4% in November to $ 68.89 a barrel at 11:43 in Singapore. The price of Western Texas -Tuss -enthusiast entrepreneurship in October fell 0.3% to $ 65.37 a barrel.