Oil prices rose by 2% against the background of frost in the USA and the attack on a port in the Russian Federation

The attack by Ukrainian drones on the Russian export oil terminal in the Baltic Sea led to a speculative increase in world oil prices by 2%. Quotations were also supported by frost in the USA, due to which parts of the platforms stopped oil production.

On the night of January 21, Ukrainian UAVs attacked the oil terminal of the Sea Trade Port in the village of Ust-Luga, Leningrad region, after which the Novatek plant, which supplies oil to world markets and the Russian army, was stopped.

Over the weekend, severe frosts in North Dakota and other northern US states halted oil production, but temperatures have warmed again since Monday, allowing production to resume quickly.

March Brent crude futures rose 1.9% to $80.1 a barrel yesterday, returning to last month's level as speculators heated up prices amid Houthi attacks on merchant ships in the Red Sea.

Traders expect stronger demand for oil amid rising stock markets in the US, where the S&P 500 index rose to a record high on Monday. However, analysts note that only technology companies are gaining in price, while other industries are slowing down. Data will be released this week that will confirm the slowdown of the US economy. The drop in production in France and Italy to the level of the 1990s, and in Germany to the level of 2010, also worsens the prospects for the growth of oil demand in Europe.

China's economy is also in recession, and shares on the Hong Kong stock exchange fell to a 19-year low, in particular, the Hang Seng China Enterprises index fell by 2.96% to 4,975.3 points. At the same time, shares of technology giants fell the most. To stabilize the stock market, the country's authorities plan to transfer $278 billion from the offshore accounts of state-owned Chinese enterprises to purchase shares through the stock exchange system.

The National Oil Corporation of Libya has announced the resumption of oil supplies from the Sharara field, which has been idle for the past three weeks, which will increase supply on the world market.

The Israeli army has begun to clear the southern Gaza region, where the main base of Hamas is located, after which the tension in the Middle East may decrease. The Iranian-backed Houthis continue to attack ships in the Red Sea and vow to do so until Israel ends its operation in the Gaza Strip.