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!

2016-08-02 18:55:00

OIL PRICES UP TO $42,34

OIL PRICES UP TO $42,34

 

OIL PRICES JULY 2016

 

OIL PRICES SEP 2015 - AUG 2016

 

According to REUTERS, oil prices edged up on Tuesday after U.S. crude broke below $40 per barrel the previous session, but traders said fuel markets continued to be dogged by excess production.

U.S. West Texas Intermediate (WTI) crude was at $40.15 a barrel at 0433 GMT (12:33 a.m. ET) , up 9 cents from its last close after dipping below $40 for the first time since April the previous session.

International Brent crude oil futures were trading at $42.34 per barrel, up 20 cents from their last close.

Despite the slightly higher prices on Tuesday, oil market data imply bearish market conditions.

Industry data shows that the global oil rig count for new production edged up in June for the first time this year, rising by two to 1,407, largely thanks to an uptick in U.S. drilling.

Actual production in the United States is also up slightly, according to government data.

Financial oil traders have taken note of the glut, with hedge funds taking on large volumes of bets that would profit from lower prices, known as shorts.

"Speculators increased their shorts by the biggest volume on record... for WTI crude..., dragging the net long position in WTI to its lowest since February," said Matt Smith of U.S.-based ClipperData.

"Another bearish development from the CFTC data has been gasoline positioning. Speculative positions in gasoline have moved to a record net short position as hedge funds bet on an ongoing gasoline supply glut," he added.

Analysts said that high production levels in crude and the refining sector would continue to weigh on markets after contributing to a 20 percent price fall since June.

As a result, refiners will likely reduce orders for new crude feedstocks.

"Weaker crude throughput at refineries will lower crude demand," BMI Research said.

The refinery run cuts are a result of low sector profits. Singapore's overall fuel refinery margins are at $3.53 per barrel, about one-third of their January highs.

In the longer term, however, analysts still think that the market will tighten, bringing supply and demand more in balance.

"The supply and demand balance will be tighter in 2017 and 2018," BMI said, although it added that high production and stock levels would prevent steep price rises.

With oil demand growth still strong despite slowing economic growth, drilling activity for future production also points to a tighter future market as industry data shows that global drilling for new crude remains at levels that have not been seen since the late 1990s.

-----

Earlier: 

URALS: $38.68 

WBG: OIL PRICES $53 - $60 

OIL PRICES DOWN TO $42.51 

GLOBAL PROFITS & CASH FLOW DOWN 

WBG: 2016: OIL PRICE $43

 

 

 

Tags: SAUDI, OIL, PRICES
Chronicle:
OIL PRICES UP TO $42,34
2021, October, 26, 13:04:00
4-ЫЙ ЕЖЕГОДНЫЙ МЕЖДУНАРОДНЫЙ САММИТ И ВЫСТАВКА: ЭНЕРГИЯ БАЛКАН
Более 250 глав министерств, ключевых инвесторов, руководителей ведущих гидроэлектростанций и инициаторов инвестиционных проектов соберутся на 4-ом ежегодном международном саммите и выставке: Энергия Балкан
OIL PRICES UP TO $42,34
2021, October, 26, 13:03:00
МЕЖДУНАРОДНАЯ КОНФЕРЕНЦИЯ И ВЫСТАВКА "УГОЛЬ РОССИЯ И СНГ"
Лидеры угольной индустрии России и стран СНГ выступят с докладами в деловой программе Международной конференции и выставки «Уголь Россия и СНГ» (16-17 ноября, Москва).
OIL PRICES UP TO $42,34
2021, October, 26, 13:02:00
LEARN THE LATEST GLOBAL LNG TRENDS WITH LNGCON 2022
The next edition of the International LNG Congress (LNGCON 2022) takes place in Dusseldorf, Germany on March 28-30, 2022. Covering the whole LNG value chain, the Congress brings together decision makers of the industry to tackle the most relevant issues such as the role of LNG in the transition towards zero-carbon shipping.
OIL PRICES UP TO $42,34
2021, October, 26, 13:00:00
CHINA ZERO EMISSIONS 2060
As of end-2020, China had nearly 282 GW of installed wind capacity, and over 253 GW of solar capacity.
OIL PRICES UP TO $42,34
2021, October, 26, 12:55:00
AUSTRALIA ZERO EMISSIONS 2050
Australia's adoption of a net zero emissions target is significant as it is one of the largest producers and exporters of fossil fuels and falling in line with the UN mandated net zero pledge would signal there could be tighter regulations on emissions reduction.
OIL PRICES UP TO $42,34
2021, October, 25, 12:30:00
OIL PRICE: ABOVE $86
Brent increased 56 cents, or 0.7%, to $86.09 a barrel, WTI rose 62 cents, or 0.7%, to $84.38 a barrel.
OIL PRICES UP TO $42,34
2021, October, 25, 12:25:00
RUSSIA'S CLOSED NUCLEAR CYCLE
Known as ROSA-N, the new model was developed by scientists in Rosatom's Proryv (Breakthrough) project, which works towards deployment of fast reactors and a closed nuclear fuel cycle.
All Publications »