LONDON (Reuters) – The latest round of U.S. sanctions on Russian oil, announced last Friday, could significantly disrupt Russia's oil supply and distribution chains, the International Energy Agency said in its monthly oil market report on Wednesday.
The Paris-based agency kept its supply forecasts for Russia and Iran steady for this month in light of uncertain expectations about the full impact of the new sanctions, but said that Washington's measures could tighten and fuel the balance.
“Although comprehensive, the full impact on the oil market and on access to Russian supplies is uncertain,” the agency said.
The International Energy Agency said that tough sanctions, as well as a cold spell in the northern hemisphere, pushed crude oil prices above $80 a barrel in early January. Futures were trading at $80.12 per barrel by 0850 GMT.
