Lumer's World Oil Price to US $109.06 Russian Sorting Effect

The world's raw oil prices are weakened on a Tuesday (20 / 10) trade morning to US level $109.06 per barrel. The decline occurred when the market noticed President of the United States (US) Donald Trump's policy to exclude a number of sanctions and rates related to Russian energy exports.

Meanwhile, the attacks in Saudi Arabia and Yemen sparked concerns about the supply disruption of the Middle East.

In the meantime, West Texas Intermediate's crude oil prices are down 49 cents or 0.45 percent to US $109.06 per barrel at 00.10 GMT.

Then, the WTI contract for more active December shipments is traded down 46 cents or 0.47 percent to US $98.08 per barrel.

In the previous trade Brent's oil prices touched US $110,70 a barrel. That price has been the highest level since May 20th.

Trump then published an executive order on Friday (16 / 10) night to provide an exception to a number of sanctions and charges related to Russian energy. The policy includes impending access to Russian goods as well as sanctions to those who buy oil and gas from the country.

Trump also claims he hasn't announced the final policy-related decision yet, Saturday (17 / 10). U.S. Foreign Secretary Marco Rubio also said government officials need more time to evaluate the situation.

Meanwhile, Russian crude oil production increases 65 thousand barrels a day by September to 8.43 million barrels a day, according to the International Energy Agency (IEA) last week. Even so, it's still about 870 thousand barrels a day below the production rate at the same time of year.

The main analyst KCM Trade Team Waterer says the market killer seems to be focusing more on the risk of energy infrastructure in the Gulf region than the potential additional supply of diesel from Russia.

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The Houthi group who allied with Iran on Monday (19 / 10) claimed to launch a number of attacks on energy targets, airports and military targets in Saudi Arabia.

The target is called the Aramco facility in Yanbu, Shaybah oil fields, King Khalid International Airport in Riyadh, and Abha Airport.

Saudi authorities have not confirmed the attack claim immediately. Reuben has also stated that he cannot verify Houthi's claims independently.

Moreover, 58 people were killed and more than 200 people were injured after the Houthi attack on government security training camps in Shabwa Province, Yemen (19 / 10).

The latest attacks raise concerns about region stability and emphasize the risk of energy supply disorder from the Middle East. The conditions keep the world's oil prices above US $100 a barrel.

In the United States, raw oil supplies were estimated to drop last week. According to Reuben's initial poll on Monday (19 / 10), oil products are also estimated to be dropping.