2020-06-30 13:00:00
OIL PRICE: NEAR $41 AGAIN
REUTERS - JUNE 30, 2020 - Oil prices slipped on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year.
The more-active September contract for Brent LCOc2 fell 22 cents, or 0.5%, to $41.63 a barrel by 0832 GMT, paring Monday's 92 cent gain. The August contract LCOc1, which expires on Tuesday, fell 26 cents to $41.45.
U.S. crude CLc1 was down 27 cents, or 0.7%, at $39.43 a barrel.
"Attempts to push prices higher are capped by growing concerns about the second cycle of the coronavirus or the inability to contain the current one," Tamas Varga of oil brokerage PVM said.
Coronavirus cases continue to rise in southern and southwestern U.S. states.
Investors are watching to see whether Libya is able to resume exports, which have been almost entirely blockaded since January amid the country's civil war.
"If we do finally see a resumption in Libyan output, this would make the job of OPEC+ a little bit more difficult, as Libya pumped at around 1 million barrels per day (bpd) prior to the disruptions." ING said.
Investors will also be looking for signs of demand recovery in data due on Tuesday from the American Petroleum Institute industry group and from the U.S. government on Wednesday.
A preliminary Reuters poll showed analysts expect U.S. crude oil stockpiles fell from record highs last week and gasoline inventories decreased for a third straight week.
Royal Dutch Shell (RDSa.L), the world’s largest fuel retailer, said it expects a 40% drop in fuel sales in the second quarter from a year earlier to 4 million bpd.
Stronger-than-expected Chinese factory data, and a drop in Iraq’s June oil exports helped cap bigger losses.
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Earlier:
2020, June, 29, 14:35:00
OIL PRICE: NEAR $41 YET
Brent fell 4 cents, or 0.1%, to $40.98 a barrel, WTI was up 7 cents, or 0.2%, at $38.56.
2020, June, 26, 11:40:00
OIL PRICE: NEAR $41
Brent rose 32 cents, or 0.8%, to $41.37, WTI gained 25 cents, or 0.7%, to $38.97
2020, June, 25, 14:15:00
OIL PRICE: NEAR $40 ANEW
Brent fell 13 cents, or 0.3%, to $40.18 a barrel, WTI declined 23 cents, or 0.6%, to $37.78 a barrel.
2020, June, 24, 12:55:00
OIL PRICE: NEAR $42
Brent slipped 47 cents, or 1.1%, to $42.16 a barrel, WTI fell 59 cents, or 1.5%, to $39.78 a barrel.
2020, June, 23, 14:45:00
OIL PRICE: NEAR $44
Brent rose 49 cents, or 1.1%, to $43.57 a barrel, WTI was up 48 cents, or 1.2%, at $41.21 a barrel
2020, June, 22, 12:30:00
OIL PRICE: ABOVE $42 ANEW
Brent rose 10 cents, or 0.2%, to $42.29 a barrel, WTI was at $39.87 a barrel, up 4 cents, or 0.1%.
2020, June, 19, 10:45:00
ЦЕНА URALS: $37,556
Средняя цена на нефть Urals за период мониторинга с 15 мая по 14 июня 2020 года составила $37,556 за баррель
