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2018-02-07 08:25:00

OIL PRICE: ABOVE $67 YET

OIL PRICE: ABOVE $67 YET

BLOOMBERG - A day after oil was swept up in a global market rout, crude is rebounding as investor focus snaps back to U.S. supplies.

Futures in New York rose as much as 1.3 percent, after being dragged down 1.2 percent in the previous session as a flight from risk shook assets around the world. While equity markets are clawing back on calls to 'buy the dip,' crude's advance is being driven by industry data that showed an unexpected decrease in U.S. stockpiles. Investors are watching if government data also surprises with a decline when it's released on Wednesday.

As calm returns to markets, Goldman Sachs Group Inc. stuck to its bullish call on commodities, saying the recent global selloff only bolsters its view that raw materials are set to perform well in months ahead. Still, crude is struggling to extend last month's gains that were largely driven by a weaker dollar, on speculation that U.S. output will impede efforts by OPEC and its allies to curb a glut.

"What's happening in the U.S. has become critical to the oil market, whether it's inventories and production figures or the movement in the greenback," Will Yun, a commodities analyst at Hyundai Futures Corp., said by phone from Seoul. "While oil prices are likely to be supported at this level after its correction, the upcoming U.S. data will be the deciding factor" for future prices.

Barrels Bounce

West Texas Intermediate for March delivery rose as much as 79 cents to $64.18 a barrel and traded at $63.88 as of 11:39 a.m. in Singapore. The contract fell 76 cents to $63.39 on Tuesday. Total volume traded was about 16 percent above the 100-day average.

Brent for April settlement rose 46 cents to $67.32 a barrel on the London-based ICE Futures Europe exchange, snapping a three-day decline. The global benchmark crude traded at a premium of $3.73 to April WTI.

The American Petroleum Institute was said to report U.S. crude stockpiles slid 1.05 million barrels last week, with storage also shrinking at tanks in the key hub of Cushing, Oklahoma. Nationwide inventories probably rose by 3.15 million barrels, according to a Bloomberg survey before a report from the Energy Information Administration due Wednesday.

-----

Earlier: 

Prices
2018, February, 5, 08:00:00

OIL PRICE: ABOVE $67

REUTERS - Brent was down 68 cents, or 1 percent, at $67.91 a barrel at 0344 GMT, after falling 1.5 percent on Friday. Brent’s weekly drop was 2.75 percent last week. U.S. West Texas Intermediate (WTI) crude declined 72 cents to $64.73 a barrel, after dropping 0.5 percent in the previous session. WTI fell by 1 percent during the last week.

 

News
2018, February, 2, 12:30:00

OIL PRICE: STILL ABOVE $69

REUTERS - Brent futures, the global benchmark, were up 24 cents, or 0.3 percent, at $69.89 a barrel by 0635 GMT. U.S. West Texas Intermediate (WTI) crude was up 33 cents, or 0.5 percent, at $66.13 a barrel.

Prices
2018, January, 31, 11:10:00

OIL PRICE: ABOVE $68 AGAIN

REUTERS - Brent crude futures LCOc1 for March delivery settled down 44 cents, or 0.6 percent, at $69.02 a barrel after touching a session low of $68.40. U.S. West Texas Intermediate futures CLc1 fell $1.06, or 1.6 percent, to close at $64.50 a barrel.

Prices
2018, January, 29, 08:45:00

OIL PRICES: ABOVE $70 YET

REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $66.34 a barrel at 0144 GMT, up 20 cents, or 0.3 percent, from their last settlement. Brent crude futures LCOc1 were at $70.49 per barrel, 3 cents below their last settlement.

 

Prices
2018, January, 26, 12:40:00

OIL PRICES: ABOVE $70

REUTERS - Brent crude futures were at $70.22 per barrel at 0556 GMT, down 20 cents, or 0.3 percent, from their last close. Brent the previous day marked its highest since December, 2014 at $71.28. U.S. West Texas Intermediate (WTI) crude futures were at $65.38 a barrel, down 13 cents, or 0.2 percent from their previous close. WTI also touched its highest since December, 2014 in the last session at $66.66.

 

Prices
2018, January, 24, 12:20:00

OIL PRICES: ABOVE $69 AGAIN

REUTERS - Brent crude futures were at $69.79 a barrel at 0749 GMT, down 17 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $64.45 a barrel, down 2 cents from their last settlement.

Prices
2018, January, 24, 12:15:00

СОГЛАШЕНИЕ ВЫПОЛНЕНО НА 107%

МИНЭНЕРГО РОССИИ - АЛЕКСАНДР НОВАК: СОГЛАШЕНИЕ ОПЕК+ ПО ИТОГАМ 2017 ГОДА ВЫПОЛНЕНО НА 107%

 

 

 

 

Tags: OIL, PRICE, BRENT, WTI, URALS, OPEC, НЕФТЬ, ЦЕНА