Oil prices fell on Friday but will rise at the end of the week
29 August 2025 08:56
World oil prices declined on Friday, but at the end of the week show growth on the background of contradictory factors: the expected decline in demand due to the end of the summer season in the U.S. and uncertainty about Russian supplies. About it reports "Komersant Ukrainian" with reference to Reuters.
Brent crude futures for October delivery, which expire on Friday, fell 53 cents (0.8%) to $68.09 per barrel as of 05:00 Kiev time. The more-active November contracts fell 48 cents (0.7%) to $67.50. WTI crude futures fell 51 cents (0.8%) to $64.09.
At the end of the week, Brent will grow by 0.6%, while WTI will increase by 0.8%.
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Russian factor
Prices rose following Ukrainian attacks on Russian oil export terminals earlier this week and after German Chancellor Friedrich Merz said on Thursday that there would be no meeting between Russian President Vladimir Putin and Ukrainian President Vladimir Zelensky.
The Russian attacks on Kiev on Thursday, which killed 23 people, have raised concerns about a possible U.S. response with increased sanctions.
“Uncertainty remains over whether the U.S. and Europe may increase sanctions against Russia following its attack on Ukraine, as well as the potential impact of U.S. duties on India, causing investors to refrain from taking large positions,”
– said Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment.
Russian crude shipments to Hungary and Slovakia via the Druzhba pipeline have resumed after an accident caused by the Ukrainian attack in Russia last week, Hungarian oil company MOL and Slovakia’s economy minister said Thursday.
Other factors
Two factors are pushing prices down: the end of the U.S. road-travel season and increased supply from OPEC.
“We expect rising OPEC supply and the seasonal drop in global refining activity since September to lead to a build-up in global oil inventories in the coming months. We forecast Brent futures to fall to $63 a barrel in the fourth quarter of 2025,”
– vivek Dhar, commodity markets analyst at Commonwealth Bank of Australia, said in a commentary.
Investors are also watching India’s reaction to U.S. pressure to stop buying Russian oil after Trump on Wednesday doubled duties on imports from India to 50 percent. Despite this, Russian oil exports to India will rise in September, traders said. India is defying U.S. pressure.
Saudi Arabia, the world’s biggest oil exporter, may cut October crude prices for Asian buyers due to oversupply and weak demand, refining industry sources said.
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