Oil stabilizes after its rise due to attacks on Russian refineries

Oil prices stabilized in early transactions today, Wednesday, after it rose by more than 1% in the previous session after attacks on aircraft running on Russian ports and refineries, amid the anticipation of customers the US Federal Reserve’s decision to reduce interest rates.

By 01:14 GMT, Brent crude futures decreased by one to $ 68.46 a barrel, while West Texas Intermediate crude recorded $ 64.51 a barrel, after they rose by about 1% in the previous session due to fears of the failure of the Russian supplies. Sources in the oil sector said that the Transing company, operating the Russian pipelines, warned the producers From the possibility of reducing production after the attacks, which increased concerns about the stability of supplies. The market is directed to focus on the results of the Federal meeting, which is expected to reduce the benefit by 25 basis points to support the economy, with accurate follow -up of Jerome Powell’s statements and members of the Council on the possibility of a greater reduction that may reach 50 basis points. Tony Sikamore, an “IG” analyst, confirmed that the markets are awaiting any indicators on the pace of cash facilitation Next and how it affects the demand for oil.