August 10, 2022

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Oil is dropping, which could give Putin a headache.  The price of raw materials has already fallen to pre-war levels

Oil is dropping, which could give Putin a headache. The price of raw materials has already fallen to pre-war levels

price oil Thursday fell to a level not seen since the attack Russia To Ukraine, that is, from the end of February. Brent crude hit a six-month low at just over $95 a barrel. Gas prices are also dropping, but they are still far from reaching pre-war levels. extortion gas Russia A significant reduction in supply through the pipeline Nord Stream 1 Maintaining high demand in global markets.

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Why is oil and gas cheaper?

The drop in gas prices was affected by the information that October was scheduled to launch the largest US gas station, Freeport LNG, which has not been operating since June 8 due to the fire. 20% of US exports pass through Freeport, Texas Gas.

More information from the country and the world On the home page of Gazeta.pl

The price of oil is getting cheaper as more and more signs point to slowing growth in the global economy. info from United States of America This indicates an increase in fuel stocks and a decrease in demand at gas stations. According to a report from the US Energy Agency, Americans are driving less cars than they did in the summer of 2020 at the height of the pandemic.

Putin’s headache

Crude oil from the Urals is cheaper, having already fallen below $75. This is about $33 less than Brent crude. In January, its price differed by only two dollars – Writes Business Insider. Russia He has a problem because the West does not buy raw materials from him. So she has to sell it at a discount, among other things China and India.

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The price of a barrel of crude oil from the Urals was just above the average of $69 when Russia sold oil in 2021. Last year, this allowed the union to increase currency reserves by $35 billion and a budget surplus of $13 billion. After all, last year Russia did not have to bear the costs of the war, which can be estimated at about a billion dollars per day ”- sums up the BI.

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