Oil prices are at the highest level in 5 months, with the risk of supplies doubling

Oil prices stabilized near the highest level in five months due to a new wave of US sanctions against the Russian energy industry, and possible customs duties of the upcoming Donald Trump administration. Brent rough established nearly $ 81 a barrel after increasing more than 5% during the previous two sessions, while the West Texas Cross approached $ 79. Last week, the United States set the most serious and broader sanctions on the Russian oil industry, which aimed at senior exporters, insurance companies and more than 150 oil tankers. A group of European Union countries intends to take similar steps by introducing more natural gas restrictions and improving the application of a maximum oil price. This increase came after Alberta Prime Minister Daniel Smith said that Canada should prepare to impose customs duties by 25%, without exceptions on oil, as soon as Donald Trump takes over the presidency after meeting the president election in Florida. More than half of US crude oil is imported by Canada, most of them are from Alberta. Oil prices were a strong start for this year, as it rose by 10% with an increase in the risk of market supply, which received support from the decline in US equities and the cold weather that led to the attractiveness of demand. Although the full impact of the recent US sanction package remains uncertain, it can lead to a redirection of global flow, as users across Asia, including refineries in India and China, are forced to search for alternative supplies. Some early signs of the disorder are already clear. One of the senior Indian officials told reporters that ships subjected to sanctions would not be allowed to load in the country. The prices of tankers have also risen, as restrictions threaten the decrease in the number of ships that can wear oil. In a related context, Chinese buyers took immediate supplies of crude oil from the Emirates and Oman in Ata. The scales that are widely detected indicate a narrowing market quickly, as the immediate difference of the ‘West Texas’ -RU, which is the difference between the nearest decades, has increased to $ 1.55 a barrel in a bullish style. This difference has been the broader since August, and is compared to a gap of less than 50 cents at the end of last year.