Let's get ready for an increase in fuel prices. Oil up after sanctions on Rosneft and Lukoil
The new sanctions were announced a day after plans for a summit between US President Donald Trump and Russian President Vladimir Putin collapsed. Trump told reporters he canceled the meeting because it “didn't feel right.”
The U.S. Treasury later announced that Russia's two largest oil companies, Rosneft and Lukoil, have become the targets of new sanctions aimed at making it more difficult for Moscow to finance its war machine. The move marks a sharp shift in policy from the White House, which has wavered between putting pressure on Moscow and adopting a more conciliatory approach aimed at securing peace in Ukraine. Only last week did Trump seem ready to hold off on new actions against Moscow.
“It is time to stop the killing and implement a ceasefire immediately,” said US Treasury Secretary Scott Bessent. Oil prices immediately rose. Sanctions may mean that the balance between supply and demand for oil will be disturbed and a significant part of the supply will be lost. And this affects prices.
London oil futures are up 3.3%. on Thursday after increasing by 2.1 percent. on Wednesday. The price of a barrel of oil exceeded $65 for a moment. The last time this happened was on October 10, which was not so long ago, but it may be a sign of a trend reversal. And this, in turn, will affect fuel prices also in Poland.
Orlen's wholesale prices increased by less than 1 grosz on Thursday. per liter to PLN 4.43 for 95 petrol and PLN 4.52 for eco-diesel, so the effect of the increase will not be visible that day, but will shift to the following days. According to data from the Autocentrum website, prices remained unchanged on Thursday: diesel at PLN 5.89 per liter and 95 petrol at PLN 5.78 per liter.
A show of Russia's nuclear power
In another show of force, the Kremlin released a video showing General Valery Gerasimov, the chief of the General Staff, reporting to Putin on the exercises. Russia reported firing missiles from land-based launchers, submarines and aircraft, including an intercontinental ballistic weapon capable of attacking the United States.
Donald Trump said he is still not ready to provide Ukraine with the Tomahawk long-range missiles requested by Kiev. Speaking to reporters during a meeting with NATO Secretary General Mark Rutte, Trump said Ukrainians need at least six months to learn how to use them.
Ahead of his meeting with Chinese President Xi Jinping in South Korea next week, Trump said he wanted Xi to use his influence over Putin to stop further war.
