2021-09-28 13:35:00
BRENT GALLOP
The monthly Brent chart shows a break above the downtrend from the 2008 record high, potentially signaling a move to the October 2018 high at $86.75 bbl.
Investors on the oil are looking for a short term pullbacks as the rally has been intense,on the Crude Oil,support test at 70.70$/bbl last week brought about with supply constraints,also the lack of drivers towards the BP flow has been a significant push.
Currently we await on the OPEC Data to bring up further sentiments on the pricing.
OPEC Basket stands at 77.73(+1.99%) as I write.
BRENT Crude above the 80$ price at 80.39(+1.08%) on the day.
A show of strength has been significant.
If colder winter is experienced,the rally may presume but if we get a slightly warmer winter,the rally may unwind in forms of slight cascading pullbacks.
Natural Gas has rallied more than +10% from the Globex Open,mostly signalled by the Options expiry(October) however on the YTD,we are up +189.86%.
All the developments are tied up to the global trade & shipping pricing,demand is running further than supply therefore depleting inventories.
Chronic underinvestment on the Green Energy sectors such as Coal might help to address some of the underlying issues.
Nice trading week,
Andy Warr,
TophatFinanceOffice.
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Earlier:
2021, September, 24, 10:45:00
U.S. OIL INVENTORIES DOWN BY 3.5 MB TO 414.0 MB
U.S. commercial crude oil inventories decreased by 3.5 million barrels from the previous week to 414.0 million barrels.
2021, September, 23, 12:55:00
OIL PRICE: NOT BELOW $76
Brent rose 9 cents, or 0.1%, to $76.28 a barrel, WTI was up 4 cents, or 0.1%, to $72.27 a barrel.
2021, September, 22, 13:00:00
OIL PRICE: NOT BELOW $75
Brent climbed $1.03, or 1.4%, to $75.39 a barrel, WTI rose $1.08, or 1.5%, to $71.57 a barrel.
2021, September, 21, 13:10:00
OIL PRICE: NEAR $75
Brent gained 95 cents or 1.3% to $74.87 a barrel , WTI was up 91 cents or 1.3% at $71.20.
2021, September, 20, 12:40:00
OIL PRICE: BELOW $75
Brent fell 61 cents, or 0.8%, to $74.73 a barrel, WTI fell 66 cents, or 0.9%, to $71.31 a barrel.
2021, September, 17, 12:10:00
ЦЕНА URALS: $69,03619
Средняя цена на нефть Urals за период мониторинга с 15 августа 2021 года по 14 сентября 2021 года составила $69,03619 за баррель, или $504,0 за тонну.
2021, July, 6, 12:20:00
OIL PRICE: NOT BELOW $77
Brent climbed 18 cents or 0.2% to stand at $77.34 a barrel, WTI were at $76.57 a barrel, up $1.41 or 1.9% from Friday’s close.
