2017-04-03 19:00:00
MAY OIL PRICES: ABOVE $50
OGJ, BLOOMBERG - The light, sweet crude oil contract for May settled above $50/bbl on the New York market Mar. 30 while the May Brent contract settled above $52.90/bbl in London. Prices edged lower on both markets on Mar. 31.
Analysts attributed price gains earlier in the week to a combination of reduced production in Libya and lower US distillates and gasoline inventories.
The oil-price rebound started with reports that militia had tampered with a pipeline from Sharara, an oil field in western Libya, to an export terminal, shutting in production. Libya's crude production dropped to about 500,000 b/d—the lowest since September 2016.
Libya was exempted from production-cut targets by the Organization of Petroleum Exporting Countries and other major producers. The total target is 1.8 million b/d with OPEC members agreeing to account for 1.2 million b/d of that.
Iraq has cut its oil production by more than 300,000 b/d. Iraq's state oil marketing company SOMO reported that Iraq's average production in March was 4.464 million b/d. Iraq's compliance to OPEC's cuts is 90%, SOMO Director Falah al-Amiri told Reuters.
Energy prices
The crude oil contract for May delivery on the New York Mercantile Exchange rose 89¢ on Mar. 30 to close at $50.35/bbl while the June contract gained 78¢ to $50.78/bbl.
The natural gas price for May dropped 40¢ to a rounded $3.19/MMbtu. The Henry Hub cash gas price closed Mar. 30 at $3.07/MMbtu, up 4¢.
Heating oil for April was up nearly 1.6¢ to a rounded $1.56/gal. Reformulated gasoline stock for oxygenate blending for April climbed almost 1¢ to a rounded $1.68/gal.
The Brent crude contract for May on London's ICE gained 54¢ to $52.96/bbl. The June contract was up by 59¢ to $53.13/bbl. The gas oil contract settled at $470/tonne on Mar. 30, up $6.25.
The average price for OPEC's basket of benchmark crudes on Mar. 30 was $50.20/bbl, up 66¢.
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Earlier:
РОССИЯ ВЫПОЛНЯЕТ СВОИ ОБЯЗАТЕЛЬСТВА
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October, 19, 11:30:00 |
ТРАГЕДИЯ В КЕРЧИ |
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October, 19, 11:25:00 |
OIL PRICE: NOT ABOVE $80 |
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October, 19, 11:20:00 |
GAS FOR CHINA: THE BIGGEST |
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October, 19, 11:15:00 |
RUSSIAN LNG FOR GERMANY |
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October, 19, 11:10:00 |
RUSSIAN YAMAL LNG |
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October, 19, 11:05:00 |
EXXON'S LNG FOR CHINA |
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Chronicle:
2018, October, 19, 11:00:00
NORWAY'S GAS FOR BRITAIN
PLATTS - Norwegian natural gas exports to the UK jumped to their highest in six months Wednesday as consistently high UK prices incentivized flows normally only reserved for wintry periods.
2018, October, 19, 10:55:00
UZBEKISTAN'S NUCLEAR: $11 BLN
AZERNEWS - The estimated cost of construction of nuclear power plant of Russian design in Uzbekistan will be about $ 11 billion, the launch of the first power unit has been planned for 2028, the Aide to the President of the Russian Federation Yury Ushakov said.
2018, October, 19, 10:50:00
IRANIAN GAS: 1 BLN CMD
SHANA - Managing Director of the Iranian Gas Engineering and Development Company (IGEDC) Hassan Montazer Torbati said the supply of one billion cubic meters per day of natural gas by National Iranian Gas Company (NIGC) was one of the goals of the company by 2021.
2018, October, 19, 10:45:00
CHINA - BELGIUM NUCLEAR
WNN - China and Belgium have signed a framework agreement on cooperation in the peaceful use of nuclear energy. The agreement was one of several accords signed in Brussels yesterday during a meeting between Chinese Premier Li Keqiang and Belgian Prime Minister Charles Michel.
