Wed 20 Aug 20/2025 – 10:05 AM
Oil prices have risen today, Wednesday, with concerns about supplies, as peace talks are likely to take to end the Russian invasion of Ukraine longer, which means keeping the sanctions imposed on Russian crude and increasing the chances of imposing more restrictions on its buyers.
Brent crude futures rose 14 cents, or 0.21%, to 65.93 dollars a barrel by 01:49 GMT, and the US West Texas Intermediate crude futures for September delivery increased, which is expressed today, Wednesday, 37 cents, or 0.59%, to 62.72 dollars per barrel, and the price of the most active October contract reached 61.92 dollars For a barrel, a height of 15 cents.
The conclusion of an agreement
Prices fell by more than 1% when the settlement yesterday, Tuesday, amid optimism about the proximity of reaching an agreement that stops the war, and thus reduces the sanctions imposed on Russia and increases the global supply, however, despite US President Donald Trump, yesterday, Tuesday, that the United States may have provided air support within an agreement to end the Russian war, he also recognized that Russian President Vladimir Putin may not even want an agreement.
Trump said on Monday that he arranges for a meeting between the Russian and Ukrainian presidents, to be followed by a summit between the three presidents, as he said on Tuesday that he discussed with Hungary Prime Minister Victor Urban to hold a possible meeting between the two presidents in Budapest, and Russia has not yet confirmed its participation in talks with Ukrainian President Voludmir Zellinski.
Reaching a quick solution to the conflict with Russia
“The possibility of a quick solution to the conflict with Russia seems to be unlikely now.
In the United States, BB said on Tuesday that the operations in its refining refinery in Witang, Indiana, which has a capacity of 440,000 barrels per day, were damaged due to floods caused by a severe thunderstorm during the night, which may affect the request for crude in the facility. The refinery is a major fuel product in the Middle West Market.
