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!

2018-09-17 15:25:00

OIL PRICE: NOT ABOVE $79 YET

OIL PRICE: NOT ABOVE $79 YET

REUTERS - Oil prices rose on Monday as investors focused on the impact of U.S. sanctions on Iran despite assurances by Washington that Saudi Arabia, Russia and the United States could together raise output fast enough to offset falling supplies.

U.S. Energy Secretary Rick Perry said in an interview with Reuters on Friday that he did not expect any price spikes and that the world's top three oil producers could between them raise global output in the next 18 months.

Brent crude oil was up 40 cents a barrel at $78.49 by 1155 GMT. U.S. light crude was up 45 cents at $69.44.

"Oil is pushing higher on widespread expectations of Iranian supply shortages," said Stephen Brennock, analyst at London brokerage PVM Oil.

Iran's oil exports have been falling in recent months as more buyers, including its second-largest buyer India, cut imports ahead of U.S. sanctions that take effect in November. Washington aims to cut Iran oil exports down to zero to force Tehran to re-negotiate a nuclear deal.

"Iranian crude oil export loadings have declined by 580,000 barrels per day in the past three months," Bank of America Merrill Lynch analysts said in a note to clients on Monday.

A leading Iranian official said on Saturday that Saudi Arabia and Russia had taken the oil market "hostage" and accused other producers of turning the Organization of the Petroleum Exporting Countries into "a U.S. tool".

Iran is the third-largest OPEC producer.

A deepening trade war between the United States and China is unsettling commodities and energy markets.

U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports on Monday, a senior administration official told Reuters.

The trade dispute is raising concerns about the potential for slower growth in oil consumption, offsetting supply concerns stemming from the upcoming U.S. sanctions on Iran over its nuclear program.

Also weighing on oil prices, U.S. drillers added two oil rigs in the week to Dec. 1, bringing the total count up to 749, the highest since September, Baker Hughes energy services firm said on Friday.

A Joint Technical Committee of OPEC and non-OPEC producers was due to meet on Monday to coordinate production and may speak afterwards.

"Markets will be looking toward OPEC and Joint Technical Committee conference call for forward guidance on oil market fundamentals in the coming term," said Benjamin Lu, a broker at Philip Futures.

-----

Earlier: 

Prices
2018, September, 14, 12:45:00

OIL PRICE: NOT ABOVE $79

REUTERS - Brent crude was up 3 cents at $78.21 a barrel by 0634 GMT, after falling 2 percent on Thursday. The global benchmark rose on Wednesday to its highest since May 22 at $80.13. U.S. West Texas Intermediate (WTI) futures were up 18 cents, or 0.2 percent, at 68.76 a barrel, after dropping 2.5 percent on Thursday.

 

Prices
2018, September, 14, 12:40:00

IEA: OIL PRICES COULD RISE

IEA - If Venezuelan and Iranian exports do continue to fall, markets could tighten and oil prices could rise without offsetting production increases from elsewhere.

 

 Prices
2018, September, 14, 12:30:00

FIXED U.S. OIL PRICE

REUTERS - U.S. shale producers are locking in prices for their production as much as three years into the future in a sign that strong domestic crude pricing is nearing a peak, according to market sources familiar with money flows.

 

Prices
2018, September, 13, 14:35:00

OIL PRICE: NEAR $79 YET

REUTERS - Benchmark Brent crude oil LCOc1 was down 70 cents a barrel at $79.04 by 0830 GMT. U.S. light crude CLc1 fell $1.15 to a low of $69.22 a barrel.

 

Prices
2018, September, 13, 14:10:00

U.S. SANCTIONS AGAINST THE WORLD

CNBC - "We can see that the pricing situation today depends not just on the supply/demand balance or the general economic situation but also on the uncertainty that we observe today in the global markets: the trade wars, the sanctions that the U.S. pursue," Novak said, speaking to CNBC's Geoff Cutmore at the Eastern Economic Forum (EEF) in Vladivostok, Russia.

 

Prices
2018, September, 12, 12:30:00

OIL PRICE: NEAR $79

REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $69.93 per barrel at 0646 GMT, up 68 cents, or 1 percent, from their last settlement. WTI futures gained 2.5 percent in the previous session. Brent crude futures LCOc1 climbed 30 cents, or 0.4 percent, to $79.36 a barrel. Brent has climbed for four straight sessions, gaining 2.2 percent the previous day.

Prices
2018, September, 12, 11:50:00

OPEC CAN INCREASE

PLATTS - "There is a fairly significant combined potential by the countries [participating in the deal] that can increase production and this potential can be used if necessary," Novak said Wednesday. 

Tags: OIL, PRICE, BRENT, WTI,