Markets ‘Unshaken’ By Russian Output Threat ...Middle East

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Markets ‘Unshaken’ By Russian Output Threat
source : OILPRICE ( Middle East ) () 19
As Russia’s March 500,000 bpd output cut nears, data from Bloomberg shows that Russia seaborne crude exports have already fallen to a six-week low, but the markets remain relatively unperturbed. While suffering a 2% drop early on Monday, oil prices have since moderated, with the UAE saying the markets are “unshaken”. Brent crude was still trading down a slight 0.38% on Monday afternoon EST, at over $86 per barrel, with WTI just under $80.  If anything, markets responded on Monday more to pending U.S. inflation data than to…

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