Crude oil prices was seen trading higher as traders concerns over the downing of the Malaysia Airlines MH17 flight which was shot down by a missile system on Thursday could weigh on supplies from Russia, the world’s largest energy exporter.
Prices for the US benchmark West Texas Intermediate (WTI) gained 0.28%, trading at $103.42 per barrel on the New York Mercantile Exchange at the time of writing. While the European benchmark Brent crude traded 0.30% higher to $106.93 a barrel on the ICE Futures Europe exchange based in London.
Russia
Brent crude futures was seen trading in between losses and gains on speculations that the Malaysian Air flight crash could affect supplies from Russia, the world’s biggest energy exporter.
The Russian President Vladimir Putin continue to face pressure to use its influence on pro-Russian separatists; allegedly responsible for the downing f plane after the US Secretary of state John Kerry said there’s circumstantial evidence that Russia provided the missile which was used to bring down the MH17 flight.
Other news
In Libya, clashes near Tripoli International Airports continues into the week as the government prepares to resume crude exports from the two terminals in the eastern region of the country which were handed over to the government by the rebels.
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Following talks between US, UK, China, Russia, Germany, France and Iran over the Persian Gulf’s nuclear program, negotiations between the countries and Iranian officials have been extended until November 24, the US Secretary of state John Kerry said in comments posted in the State Department website.
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