Brent and West Texas Intermediate fell for a second day amid speculation that the crisis over the downing of a Malaysian Air jet will have no impact on supplies from Russia, the world’s largest energy exporter.
Brent futures dropped as much as 0.3 percent in London, extending a 0.6 percent loss on July 18. President Vladimir Putin faces pressure to respond after U.S. Secretary of State John Kerry said there’s “extraordinary circumstantial evidence” that Russia provided the missile that Ukrainian rebels used to bring down Flight 17.
“We don’t expect really that the European Union or the international community to go so far that we’re going to see a disruption in energy supply,” Dominic Schnider, the Singapore-based head of commodities research at UBS AG’s wealth management unit, said in an interview on Bloomberg television today.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015