According to S&P global Platts data, the Brent crude oil futures contract in the North Sea reached $0.80 per barrel100 on February 6th, the first time since 20 100.
The spot premium in the futures market shows that the crude oil market is in the most tense supply moment in history. The biggest reason for this phenomenon is the disturbance of the conflict situation between Russia and Ukraine under the geopolitical premium.
Since the middle of February 65438 last year, driven by the geopolitical crisis in Russia and Ukraine, the price of Russian Ural crude oil transported through Ukraine has risen in step with the global oil price. After February, the rising speed further accelerated. On February 1 1 day, Platts' valuation of Ural crude oil was 9 1.00 USD/barrel, which was significantly higher than that of 68.35 USD/barrel on February 2 last year.
Huaxia energy network
Platts believes that geopolitics is leading the bullish sentiment in the market. With Russian and Ukrainian troops massing at the border, the market is also worried about the interruption of oil and gas supply in Europe. This may be equivalent to 250,000 barrels of oil per day and more than 4 billion cubic feet of natural gas per day.
JPMorgan Chase also warned that if the conflict between Russia and Ukraine heats up, Russia's crude oil export supply will inevitably be affected, and oil prices will easily soar to $ 120 per barrel, or even reach $ 150 per barrel, setting a new record since July 2008.
However, Huaxia Energy Network noted that from the current international oil price, Brent crude oil did not continue to rise, but declined. As of February 18, the price of Brent crude oil was 92.30 USD/barrel.
Domestically, the rise in international oil prices has also affected China's new round of refined oil price adjustment.