Ukraine blip

摘要

International crude marker Dated Brent jumped $2.48/ barrel March 3 to $111.30/b in response to Russia’s intervention in Crimea, but soon lost momentum and, by March 24, had fallen to $106.65/b. The short-lived and relatively small response reflected the expectation that no action would be taken by the US or EU with regard to Russian oil supplies and the fact that Ukraine is not a major transit nation for Russian oil, although the southern section of the Druzhba pipeline does pass through the country in the north.