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!

2020-07-03 11:55:00

OIL PRICE: NOT ABOVE $43 ANEW

OIL PRICE: NOT ABOVE $43 ANEW

REUTERS - JULY 3, 2020 - Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery.

The United States reported more than 55,000 new coronavirus cases on Thursday, a new daily global record for the pandemic. The rise in cases suggested U.S. jobs growth, which jumped in June, could suffer a setback.

Brent crude LCOc1 was down 52 cents, or 1.2%, at $42.62 a barrel as of 0805 GMT, and U.S. West Texas Intermediate (WTI) crude CLc1 fell 50 cents, or 1.2%, to $40.15.

“The fragile U.S. economic rebound is at risk of being undone by the latest surge in new infections,” said Stephen Brennock of oil broker PVM.

Both benchmarks rose more than 2% on Thursday, buoyed by strong U.S. June jobs figures and a drop in U.S. crude inventories. Brent is still heading for a weekly gain of more than 5%.

Signs of economic recovery, and a drop in supply after a record supply cut by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have helped Brent more than double from a 21-year low below $16 reached in April.

Boosting recovery hopes, a private survey showed on Friday that China’s services sector expanded at the fastest pace in over a decade in June.

OPEC oil production fell to its lowest in decades in June  and Russian production has dropped near its OPEC+ target.

The bankruptcy filing of U.S. shale pioneer Chesapeake Energy also supported prices by raising expectations production will decline, JBC Energy said in a report.

Gasoline demand will be closely watched as the United States heads into the July 4 holiday weekend. U.S. gasoline stocks USOILG=ECK rose by 1.2 million barrels last week.

-----


Earlier:

OIL PRICE: NOT ABOVE $43 ANEW
2020, July, 2, 12:05:00
OIL PRICE: NOT ABOVE $43
Brent was up 25 cents or 0.6% at $42.28 a barrel, WTI rose 25 cents, or 0.6%, to $40.07 a barrel
OIL PRICE: NOT ABOVE $43 ANEW
2020, June, 30, 13:00:00
OIL PRICE: NEAR $41 AGAIN
Brent fell 22 cents, or 0.5%, to $41.63 a barrel, WTI was down 27 cents, or 0.7%, at $39.43 a barrel.
All Publications »
Tags: OIL, PRICE, BRENT, WTI
Chronicle:
OIL PRICE: NOT ABOVE $43 ANEW
2023, February, 3, 11:29:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
OIL PRICE: NOT ABOVE $43 ANEW
2023, February, 3, 11:28:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
OIL PRICE: NOT ABOVE $43 ANEW
2023, February, 3, 11:25:00
ЦЕНА URALS: $49.48
Средняя цена на нефть марки Urals в январе 2023 года сложилась в размере $49,48 за баррель, что в 1,7 раз ниже, чем в январе 2022 года ($85,64 за баррель).
OIL PRICE: NOT ABOVE $43 ANEW
2023, February, 3, 11:20:00
RUSSIAN GAS TO EUROPE DOWN AGAIN
Total Russian pipeline exports to Europe in January via the two remaining major supply routes were 36% down on deliveries in December and 79% lower year on year.
OIL PRICE: NOT ABOVE $43 ANEW
2023, February, 3, 11:15:00
BP: THE TRANSITION TO A LOW-CARBON WORLD
The transition to a low-carbon world requires a range of other energy sources and technologies, including low-carbon hydrogen, modern bioenergy, and carbon capture, use and storage.
OIL PRICE: NOT ABOVE $43 ANEW
2023, February, 3, 11:10:00
GERMAN WIND ENERGY 7 GW
Germany targets 30 GW of offshore wind by 2030. The country had 7.7 GW of offshore wind installed capacity at the end of 2021.
OIL PRICE: NOT ABOVE $43 ANEW
2023, February, 3, 11:05:00
INDIA GREEN TRANSITION $8 BLN
India plans to spend US$4.3bn on energy transition through the Ministry of Petroleum and Gas, including programs for green fuel, green energy, green farming, green mobility, green buildings, and green equipment and policies for efficient use of energy across various economic sectors.
All Publications »