Oil prices on Tuesday, January 27, slightly decreased despite a severe snow storm in the United States, while investors are watching the resumption of oil supplies from Kazakhstan.
It was reported by Ekonomichna Pravda with reference to Reuters.
The report says that futures for Brent crude oil fell by 44 cents (0.7%) to USD 65.15 per barrel, while US West Texas Intermediate crude oil fell by 35 cents (0.6%) to USD 60.28 per barrel.
On Monday, Kazakhstan's Energy Ministry said the country was preparing to resume production at its largest oil field, although industry sources said volumes would still be low.
CPC, the international oil transportation company that operates Kazakhstan's main export pipeline, said it has returned to full loading capacity at its terminal in russia on the Black Sea coast after completing maintenance on one of its three mooring points.
It is noted that the fall in oil prices was limited amid a loss of production in the United States due to a severe winter storm that swept across the country, putting a strain on its energy infrastructure and power grids.
According to analysts and traders, US oil producers lost up to 2 million barrels a day, or about 15% of national output, over the weekend.
Several refineries along the US Gulf Coast reported problems related to the freezing weather.
As the Ukrainian News agency earlier reported, oil prices on Tuesday, January 20, rose slightly: a weaker dollar provided support, while markets are watching US President Donald Trump's threats to raise duties on European countries due to his intention to buy Greenland.
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