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2016-10-20 18:45:00

OIL PRICES: ABOVE $52 COURSE

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО

 

BRENT OIL PRICE OCT 20 2016

 

WTI OIL PRICE OCT 20 2016

According to WSJ, Oil prices fell on Thursday, unable to sustain the previous day's rally, as investors cashed in their overnight gains driven by a larger-than-expected decline in the U.S. crude inventory.

Brent crude, the global oil benchmark, fell 1% to $52.12 a barrel on London's ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 1% at $51.27 a barrel, having hit a more than one-year high the previous session after U.S. stocks data was published.

Energy Information Administration data showed U.S. domestic crude stocks dropped by 5.2 million barrels in the week ended Oct. 14, mainly due to lower imports.

However, with total crude stocks at 468.7 million barrels, it is still 5.4% higher than the same period last year and 31.5% above the five-year average. Oil which isn't imported into the U.S. also weighs on the already oversupplied world market.

"The outlook for the oil price going forward is quite bleak," said Eugen Weinberg, analyst at Commerzbank.

Mr. Weinberg pointed out that the recent rise in prices was encouraging higher production in the U.S., while the Organization of the Petroleum Exporting Countries was also expected to continue to boost its output ahead of a meeting in November to agree on a production cut.

The flexibility and speed of U.S. producers have greatly changed the dynamic of the global oil market. The emergence of U.S. shale oil is threatening producers from the Middle East and Russia who have been pumping at record levels to protect their market shares.

As a result, prices have been in a prolonged funk for over two years and producers who can't afford to keep operating at such low prices have either dropped out or scaled back.

The low prices have also prompted OPEC to suggest a collective production cut of 200,000 to 700,000 barrels a day for its members. The plan, which so far excludes Iran, Libya, and Nigeria, is expected to be discussed and possibly ratified in the Nov. 30 meeting.

Many market watchers aren't enthused by the deal, saying the group's longstanding internal tensions will make it difficult for all members to be on board. Even if a deal is struck, it remains a question if the members would abide by the production quotas.

"Despite skepticism on the OPEC deal, since it was announced, oil market participants have clearly become less bearish and more bullish," said Michael Wittner, head of oil market research at Société Générale.

Nymex reformulated gasoline blendstock—the benchmark gasoline contract—fell 1% to $1.50 a gallon. ICE gasoil changed hands at $476.00 a metric ton, down $7.75 from the previous settlement.

BRENT OIL PRICES NOV 2015 - OCT 2016

 

WTI OIL PRICES NOV 2015 - OCT 2016

 

WTI OIL PRICES NOV 2015 - OCT 2016

 

BRENT OIL PRICES NOV 2011 - OCT 2016

 

WTI OIL PRICES NOV 2011 - OCT 2016

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Earlier: 

OIL PRICES: ABOVE $52 NOW

OIL PRICES: ABOVE $51 STILL 

URALS: $45,72705

OIL PRICES FORECAST: $43 - $51 

OIL PRICES: ABOVE $51 

 

 

Tags: OIL, PRICES, BRENT, WTI,

Chronicle:

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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