Because two major crude oil price benchmarks, West Texas Intermediate (WTI) and Brent, account for 70% of the weighting in the S&P GSCI energy index, the energy index tends to follow major price movements in the crude oil market. During the first half of 2017, WTI crude oil prices declined by 12%, while Brent prices fell 14%.
The August light, sweet crude contract on NYMEX dropped $1.94 on July 5 to settle at $45.13/bbl. The September contract was down $1.95 to close at $45.34/bbl. The NYMEX natural gas price for August declined 11¢ to a rounded $2.84/MMbtu. The Henry Hub cash gas price was $2.90/MMbtu on July 5, down 4¢ from June 30, the last available price for the US gas spot price. The Brent crude contract for September on London’s ICE decreased $1.82 to $47.79/bbl while the October contract dropped $1.83 to $48.07/bbl. The July gas oil contract was down $6.75 to $442.25/tonne. The Organization of Petroleum Exporting Countries’ basket of crudes on July 5 was $47.04/bbl, down 53¢.
Novak said prices had room to rise from current levels and said inventories in industrialized nations were expected to ease back to the five-year average thanks to the decision by OPEC and its allies to extend supply curbs from the first half of 2017 to the first quarter of 2018.
The Organization of Petroleum Exporting Countries produced 32.49 million b/d in June—an increase of 220,000 b/d from May and representing a 6-month high.
In the report -- trailed in May at the Flame conference in Amsterdam -- the IGU also confirmed that the average global wholesale gas price averaged just $3.35/MMBtu in 2016, the lowest price in any survey done by the IGU since it started in 2005.
Отклонение нефтегазовых доходов федерального бюджета от месячной оценки, соответствующей Федеральному закону о федеральном бюджете на 2017-2019 годы, в июле 2017 года прогнозируется в размере +11,7 млрд руб.
One big reason is that natural gas prices have recovered from 20-year lows, nearly doubling since last year, according to S&P Global Market Intelligence.
Средняя цена нефти марки Urals по итогам января-июня 2017 года составила $50.3 за баррель. В 2016 году средняя цена на Urals в январе-июне составила $37,85 за баррель. Средняя цена на нефть марки Urals в июне 2017 года сложилась в размере $45,65 за баррель, что в 1,01 раза ниже, чем в июне 2016 года ($46,49 за баррель).
Brent crude futures, the international benchmark for oil prices, were at $49.55 per barrel at 0456 GMT, down 6 cents, or 0.1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $46.99 per barrel, down 8 cents, or 0.2 percent.
Qatar mounted what appeared to be a show of strength on Tuesday, when the state-owned Qatar Petroleum announced plans to raise liquefied natural gas capacity by 30 percent. Its immediate effect will be to worsen a glut on the LNG market where Australia, the United States and Russia vie.