Related Articles
Forward article link
Share PDF with colleagues

Crude price falls despite rising Russia tension over Crimea

The EU has imposed travel bans and asset freezes against Russian and Ukrainian officials

Crude prices fell in mid-March despite rising geopolitical tensions between Russia and the west over Crimea. The oil market’s reaction to the European Union (EU) and US decisions on 17 March  to impose travel bans and asset freezes against a number of Russian and Ukrainian officials was muted. Brent and WTI were trading around $106 per barrel (/b) and $98/b on 18 March, both down by over $1/b day-on-day. President Vladimir Putin said Crimea will join the Russian Federation after a referendum on 16 March which saw almost 97% of voters opt to secede from Ukraine. The US and EU have condemned the vote, which Russia says was legal. There are fears Europe may pay higher gas prices and face suppl

Also in this section
Serica sanguine on Iran sanctions
13 July 2018
The firm's historic links to Iran are in the spotlight as US sanctions resume
The return of cautious optimism in the North Sea
13 July 2018
The UK’s North Sea hub, braced for production declines, has received a boost from new investments and revived interest from the supermajors
China loans make Venezuela’s outlook more precarious
12 July 2018
Patience is wearing thin among both China and other trading partners