The North Sea crude, a benchmark in Europe, marked its fourth consecutive session of gains on the Intercontinental Exchange, closing $1.02 higher than the $67.73 at the end of Friday’s trading.
Over the past four sessions, Brent crude appreciated by 4.5%, following the summit between the Presidents of the United States and Russia.
Market analyst Javier Cabrera believes that the intensification of Russian attacks on Ukraine helps prevent a drop in oil prices.
It was revealed today that Saudi oil exports decreased by 15.8% year-on-year in the second quarter, nearly double the fall experienced in the first quarter (8.4%), while other exports rose by 17.8%, totaling $62.43 billion (53.8 billion euros).
The Saudi General Authority for Statistics highlighted that China remains its main trading partner, accounting for 14.2% of its foreign trade, followed by the United Arab Emirates (10%) and India (8.8%). The top 10 partners list also includes South Korea, Japan, Egypt, the United States, Bahrain, Malta, and Poland.
