2022-02-17 14:15:00
OIL PRICE: BELOW $93
REUTERS- Feb 17 - Oil prices fell on Thursday as talks to resurrect a nuclear deal with Iran entered their final stages, but losses were capped by heightened tensions between top energy exporter Russia and the West over Ukraine.
Brent crude traded down $1.26, or 1.3%, at $93.55 a barrel by 0914 GMT. U.S. West Texas Intermediate (WTI) crude was down $1.34, or 1.4%, at $92.32.
Both contracts fell more than 2% earlier in the session.
"(The) oil market is locked in a tug of war between Iranian sanctions relief and Russian-Ukraine tensions," said Stephen Brennock at brokerage PVM Oil.
The United States is in "the midst of the very final stages" of indirect talks with Iran, aimed at salvaging a 2015 deal limiting Tehran's nuclear activities, State Department spokesperson Ned Price said on Wednesday.
A decision on salvaging the nuclear deal was said by France to be only days away on Wednesday and that it was up to Tehran to make the political choice, though Tehran called on Western powers to be "realistic".
With a new deal possibly on the horizon, South Korea said on Wednesday that it had held talks on resuming imports of Iranian crude oil and unfreezing Iranian funds. South Korea was previously one of Tehran's leading oil buyers in Asia.
However, continuing tensions over a possible Russian invasion of Ukraine continues to support oil markets because of the potential disruption to energy supplies.
Russian-backed rebels in eastern Ukraine said that Kyiv government forces used mortars to attack their territory on Thursday, in violation of agreements aimed at avoiding conflict, Russian state news agency RIA said.
Russia's announcement of a partial pullback of troops from near Ukraine this week was countered by Western governments warning that Russia was building up military presence near the Ukraine border.
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Earlier:
2022, February, 16, 11:55:00
OIL PRICE: NEAR $94 ANEW
Brent traded at $93.90 a barrel, WTI was at $92.71 a barrel.
2022, February, 16, 11:50:00
ЦЕНА URALS: $91,70738
Средняя цена на нефть Urals за период мониторинга с 15 января 2022 года по 14 февраля 2022 года составила $91,70738 за баррель или $669,5 за тонну.
2022, February, 16, 11:45:00
RUSSIAN URALS NEEDED
Urals CIF Rotterdam was assessed at Dated Brent minus $3.645/b on Feb. 15, recovering somewhat from near term lows but still around the lowest level since the pandemic-led demand collapse of summer 2020
2022, February, 15, 14:30:00
OIL PRICE: NEAR $94
Brent fell $2.65, or 2.8%, to $93.83 a barrel, WTI dropped $2.82, or 3%, to $92.64 a barrel.
2022, February, 14, 12:00:00
RUSSIAN OIL FOR CHINA UP
Russia returned as the top supplier to China's independent refineries in January -- overtaking Malaysia -- with arrivals amounting to 2.77 million mt, up 45.7% from the previous month.
2022, February, 11, 11:40:00
GLOBAL OIL DEMAND 2022: +4.2 MBD
In 2022, oil demand growth is expected at 4.2 mb/d unchanged from last month, with OECD and non-OECD projected to grow by 1.8 mb/d and 2.3 mb/d, respectively.
2022, February, 9, 12:15:00
IRAN SANCTIONS, GUARANTEES
“When it comes to the Vienna talks on the lifting of sanctions, one of the key issues is to get the necessary guarantees, especially from the Western parties, about the fulfilment of their commitments,”
