... fuel, fuel oil, and other oil products. Open Oil Market emphasizes transparency and simplification of procurement processes in an industry that has traditionally been plagued by gray schemes and logistical complexities. Features and Advantages of Open Oil Market: Price Transparency and Terms The platform allows companies to view complete information about offers, including prices, delivery terms, and product specifications. This helps buyers select the optimal options and avoid unexpected costs. Convenience and ...

... an increase in electricity prices: the average price of electricity in Germany during the same period rose by more than 40%, from €79 to €112 per megawatt-hour (MWh)," noted Sergey Tereshkin, CEO of the oil and raw materials marketplace OPEN OIL MARKET. He explained that under the current regulatory model, electricity prices in the European Union (EU) depend on the cost of balancing generation, with gas-fired power plants playing a key role in covering sharp spikes in energy demand. As a result, the rising cost of fuel for gas-fired power plants leads to higher electricity ...

... Index (July). A key indicator of the services sector's state in the U.S.; special attention on employment and price components. 23:30 (USA): API report on weekly oil inventories. Unofficial data from the American Petroleum Institute could influence oil prices ahead of the official report. Corporate Earnings: Before market open: Caterpillar, Pfizer, BP, Eaton Corporation, Siemens Energy. The morning block features an industrial giant (Caterpillar), a pharmaceutical leader (Pfizer), a European oil and ...

... regarding production and consumption, especially in the context of supply cuts from OPEC+. U.S. – EIA Oil Inventories: The statistics on commercial oil reserves could induce volatility in commodity markets. A decline in inventories typically supports oil price growth, while an increase could signal weakening demand. Russia – Weekly Consumer Inflation Data: Yearly inflation in Russia remains around 9–10% year-on-year, while weekly intervals may experience periods of deflation due to seasonal factors....

... Meanwhile, the price of gasoline on the St. Petersburg International Mercantile Exchange (SPIMEX) fell on Tuesday after rising earlier in the week. "In the AI-95 gasoline segment, the status quo will remain until the end of the year... Exchange prices for AI-95 will, on average, be 15-20% higher than those for AI-92... Oil producers will need to offset losses from increased costs associated with unplanned repairs at refineries. Therefore, the profitability of AI-95 sales will be close to zero," Tereshkin believes. Additionally, he noted that seasonal factors ...