RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2016-07-04 18:00:00

OIL PRICE: $50.65

ЦЕНА НЕФТИ: $50.65

 

OIL PRICES JUNE 2016

 

OIL PRICES 2015 - 2016

 

According to REUTERS, oil futures were steady on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.

Brent crude futures LCOc1 were trading at $50.31 per barrel at 0441 GMT, almost unchanged from their last settlement. U.S. crude CLc1 were down 5 cents at $48.94.

There will be no West Texas Intermediate crude settlement on Monday as U.S. financial and commodity markets are closed for the U.S. Independence Day holiday.

"Fundamentals offer limited scope for further price gains and we expect Brent to trade broadly sideways over the coming months," said analysts at BMI Research.

The energy minister of Saudi Arabia, the world's top crude exporter, and the secretary general of producer club OPEC agreed that global oil markets were heading towards balance, and that prices reflect this.

Crude futures are drawing some support from concerns over output in Nigeria, where a militant group has been carrying out attacks on oil facilities over the past months.

Attacks in the Niger Delta have pushed Nigerian crude production to 30-year lows, although the Nigerian National Petroleum Corporation said last week that output was rising following repairs.

However, oil demand and, as a result, prices could come under pressure as weak margins prompt run cuts at a time when refineries in top consuming region Asia are already gearing up to enter their maintenance season.

"After another counterseasonal summer build, gasoline cracks now trade below diesel, which should force refiners to act ... The end result is likely to be run cuts, with some signs already emerging for 3Q," Morgan Stanley said on Monday.

"Asia refiners have already started to pull back ... and there are reports of cargoes struggling to sell," it added.

Higher oil output is another factor that could cap prices.

In the United States, drillers last week added oil rigs for a fourth week in five, in the best month of producers returning to the well pad since August 2016.

Also, Russian oil output stood at 10.84 million barrels per day (bpd) in June, up from 10.83 bpd in May.

In Norway, oil workers signed a deal on Saturday, avoiding a strike that would have cut output from western Europe's top oil producer by about 6 percent.

Money managers cut their net long U.S. crude futures and options positions in the week to June 28, the U.S. Commodity Futures Trading Commission said on Friday.

-----

Earlier:

OIL PRICES: $50.13  

OIL PRICES UP TO $48.84  

OIL PRICES DOWN TO $48.26  

OIL PRICES DOWN 6%  

GLOBAL DEFICIT $2 TLN

 

 

Tags: OIL, PRICES
Chronicle:
ЦЕНА НЕФТИ: $50.65
2022, July, 4, 12:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
ЦЕНА НЕФТИ: $50.65
2022, July, 4, 12:43:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
ЦЕНА НЕФТИ: $50.65
2022, July, 4, 12:40:00
GERMAN UTILITIES COLLAPSE
German leaders are stepping up warnings of impending turmoil and natural-gas shortages in Europe’s biggest economy, which relies on Russia for about one-third of its energy.
ЦЕНА НЕФТИ: $50.65
2022, July, 4, 12:35:00
IRANIAN OIL RISES
Iran could increase production to levels before the sanctions, he said, without giving an estimate of current output.
ЦЕНА НЕФТИ: $50.65
2022, July, 4, 12:30:00
S.KOREAN NUCLEAR FOR CZECH
"A nuclear power generation project requires more than a decade for construction and involves operations for more than 60 years. South Korea is a reliable partner in terms of economic feasibility, safety, and ensuring the construction period," Lee said.
ЦЕНА НЕФТИ: $50.65
2022, June, 28, 12:10:00
OIL PRICE: BRENT NEAR $117, WTI ABOVE $111
Brent climbed $1.9, or 1.7%, to $116.99, WTI rose $1.8, or 1.6%, to $111.36 a barrel.
ЦЕНА НЕФТИ: $50.65
2022, June, 28, 12:05:00
OPEC OIL PRICE: $112.35
The price of OPEC basket of thirteen crudes stood at $112.35 a barrel
All Publications »