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2018-04-13 18:10:00

OIL PRICE: ABOVE $72

OIL PRICE: ABOVE $72

REUTERS - Oil prices steadied on Friday, heading for their largest weekly gain since July after U.S. President Donald Trump's comments about possible military action in Syria and reports of dwindling global oil stocks.

Recovering from earlier losses, Brent crude LCOc1 was up 28 cents at $72.30 a barrel by 1301 GMT and set for a weekly gain of almost 8 percent, or about $5.

U.S. crude for May delivery CLc1 rose 28 cents to $67.35, up more than 8 percent, or about $5, for the week.

"You have to put today's moves in the context of the last three days. There hasn't been any particular change today in terms of geopolitics or fundamental data," said Harry Tchilinguirian of BNP Paribas.

Both oil benchmarks hit their highest since late 2014 on Wednesday after Trump warned that missiles "will be coming" in response to a suspected gas attack in Syria and after Saudi Arabia said it intercepted missiles over Riyadh.

Trump tweeted on Thursday that an attack on Syria "could be very soon or not so soon at all", raising the prospect that an attack might not be as imminent as he seemed to suggest the previous day.

"As we start the last day of the week, we feel that the geopolitical risks are not as high as feared three days ago," Petromatrix said in a note.

"The Syrian escalation risk cannot be fully written off, but we view that it deserves less of a premium than three days ago."

A global oil stocks surplus is close to evaporating, OPEC said on Thursday, adding that its collective output fell to 31.96 million barrels per day (bpd) in March, down 201,000 bpd from February.

Vienna-based OPEC and its oil producer allies are poised to extend their supply reduction pact into 2019 even as the global glut of crude looks set to be eradicated by September, OPEC Secretary-General Mohammad Barkindo told Reuters.

The International Energy Agency (IEA), which coordinates the energy policies of industrialized nations, signaled on Friday that markets could become too tight if supply remains restrained.

"It is not for us to declare on behalf of the Vienna agreement countries that it is 'mission accomplished', but if our outlook is accurate, it certainly looks very much like it," the IEA said.

Meanwhile China's March crude oil imports climbed month on month to the second-highest level on record.

In Norway, Eni (ENI.MI) has shut output at its Arctic Goliat oilfield because of a small at a platform that has capacity of close to 100,000 barrels a day.

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Earlier: 

Prices
2018, April, 11, 13:40:00

OIL PRICE: ABOVE $71

REUTERS - Brent crude has gained 5.7 percent this week, rising to $71.34 a barrel on Tuesday, the highest since late 2014, although the price has since fallen back and was $70.98 a barrel by 0907 GMT LCOc1, down 6 cents.U.S. crude futures CLc1 were at $65.55 a barrel, up 4 cents on the day.

Prices
2018, April, 11, 13:35:00

RUSSIA - OPEC UNLIMITED

PLATTS - Maintaining a long-term oil management alliance with Russia and other allies will allow OPEC producers to react more quickly to changing fundamentals and stabilize the market,

 

Prices
2018, April, 11, 13:30:00

INDIA WANTS $50

BLOOMBERG - “We are a very price-sensitive consumer,’’ Pradhan said on Tuesday. “From Indian consumers’ point of view, I will be more than happy if the price is around $50 a barrel.’

 

 

Prices
2018, April, 11, 13:25:00

OIL PRICE 2018-19: $63

EIA - Brent crude oil spot prices averaged $66 per barrel (b) in March. EIA forecasts Brent spot prices will average about $63/b in both 2018 and 2019. EIA expects West Texas Intermediate (WTI) crude oil prices to average $4/b lower than Brent prices in both 2018 and 2019. NYMEX WTI futures and options contract values for July 2018 delivery that traded during the five-day period ending April 5, 2018, suggest a range of $52/b to $78/b encompasses the market expectation for July 2018 WTI prices at the 95% confidence level.

 

Prices
2018, April, 9, 11:45:00

OIL PRICE: NOT ABOVE $68 AGAIN

REUTERS - U.S. WTI crude futures CLc1 were at $62.31 a barrel at 0643 GMT, up 25 cents, or 0.4 percent, from their previous settlement. Brent crude futures LCOc1 were at $67.42 per barrel, up 31 cents, or 0.5 percent.

 

 

Prices
2018, April, 9, 11:35:00

OPEC - RUSSIA UNLIMITED

PLATTS - Russia is willing to work with the OPEC coalition indefinitely to regulate global oil supplies and has advocated the creation of a new global body to monitor crude markets, the country's energy minister said.

 

 

Prices
2018, April, 9, 11:25:00

OPEC OIL PRODUCTION DOWN TO 32.14 MBD

PLATTS - OPEC oil output in March fell to 32.14 million b/d, its lowest level in 11 months, led by declines in seven out of the 14 member countries, 

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