World of Warship Missouri you tube10/19/2023 ![]() ![]() ![]() Lower crude oil contracts on Monday follow last week's 4% rally fueled by extended production and export cuts into September announced by Saudi Arabia and Russia. Oil traders have so far brushed aside the latest geopolitical risk in the Black Sea. There was no public claim of responsibility by the Ukrainian government, which usually refrains from taking credit for attacks on Russian territory, but a source in Ukraine's Security Service, the SBU, told NBC News that it "blew up a large oil tanker of the Russian Federation" in a joint operation with the navy. Novorossiysk port processes nearly 1.9 million bpd or 2% of global oil supply. The Russian oil tanker "Sig" was attacked by a Ukrainian drone near the strategic Novorossiysk port on Saturday (7/5), 24 hours after the port was forced to briefly halt all traffic due to a drone attack on a Russian warship. (DTN) - West Texas Intermediate futures on the New York Mercantile Exchange and Brent crude traded on the Intercontinental Exchange declined on Monday as market participants assessed risk to oil supply in the Black Sea against inflation pressures in the United States and Eurozone, where central banks pledged to continue restrictive monetary policy in their fight to reduce inflation. ![]()
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