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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,
ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО October, 15, 12:30:00

OIL PRICE: NEAR $81 ANEW

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО October, 15, 12:25:00

BAD BOYS: IMF & WBG

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО October, 15, 12:20:00

U.S. - CHINA NUCLEAR POLICY

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО October, 15, 12:15:00

U.S. - CHINA NUCLEAR SANCTIONS

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО October, 15, 12:10:00

IRAN SANCTIONS DOWN

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО October, 15, 12:05:00

IRAN - S.KOREA OIL DOWN ANEW

All Publications »

Chronicle:

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО
2018, October, 15, 12:01:00

GAZPROM - SHELL: BALTIC LNG

GAZPROM - The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED).

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО
2018, October, 15, 12:00:00

U.S. RIGS UP 11 TO 1,063

BHGE - U.S. Rig Count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68.

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО
2018, October, 12, 11:40:00

OIL PRICE: NEAR $81

REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.

ЦЕНА НЕФТИ: ВЫШЕ $52, КОНЕЧНО
2018, October, 12, 11:35:00

OIL PRICES 2018 - 19: $74 - $75

EIA - Brent crude oil spot prices averaged $79 per barrel (b) in September, up $6/b from August. EIA expects Brent spot prices will average $74/b in 2018 and $75/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019.

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