CRUDE WRAP: WTI (V5) SETTLE USD 0.14 HIGHER AT 63.66/BBL; BRENT (V5) SETTLES USD 0.06 HIGHER AT 67.73/BBL

Analysis details (19:32)

The crude complex was marginally firmer on Friday as a dovish Powell appearance at Jackson Hole took the headlines, albeit saw little sway on oil prices despite the heavy Dollar selling. Nonetheless, in the European morning some upticks were in benchmarks after Hungarian Foreign Minister said oil deliveries to Hungary via the Druzhba pipeline have been halted due to attacks near the Russia-Belarus border. Note, the Druzhba pipeline currently has a capacity of 1.2 to 1.4mln barrels per day. Later in the session, Hungary said Druzhba pipeline deliveries are halted for at least five days, although Germany reported there is no supply impact. On the damaged pipeline, Politico reported that Trump got “very angry”. There was little update on the Russia/Ukraine front, as optimism continues to fade on a possible deal, and Trump said he will see if Putin and Zelensky will work together, and he will see if he needs to be there, but "would rather not". In the weekly Baker Hughes Rig Count oil fell 1 to 411, Natgas was unchanged at 122, leaving the total down 1 at 538.

22 Aug 2025 - 19:32- EnergyGeopolitical- Source: Newsquawk