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!

2020-09-04 12:30:00

OIL PRICE: NOT BELOW $44

OIL PRICE: NOT BELOW $44

REUTERS - SEPTEMBER 4, 2020 - Oil held around $44 a barrel on Friday and was heading for its biggest weekly decline since June, as weak demand figures added to concerns of a slow recovery from the COVID-19 pandemic.

A U.S. government report showed domestic gasoline demand fell in the latest week. Middle distillates inventories at Asia's oil hub Singapore have soared above a nine-year high, official data showed.

Brent crude LCOc1, the international benchmark, was up 5 cents, or 0.1%, to $44.12 at 0745 GMT, heading for a 2.3% drop this week. U.S. West Texas Intermediate (WTI) CLc1 fell 3 cents to $41.34, set for the first weekly drop in five weeks.

In focus on Friday will be U.S. payrolls figures at 1230 GMT, which could be a selling trigger if an expected slowdown in hiring is steeper than forecast. The unemployment rate is expected to fall to 9.8% from 10.2%.

"Demand concerns are firmly front and centre of traders' minds," said Stephen Brennock of oil broker PVM. "Today's non-farm U.S. payroll report will be closely watched and a disappointing number could be the next bearish catalyst."

FGE analysts said rising coronavirus cases worldwide and renewed lockdowns would dash hopes of a drawdown in oil inventories for some time. The pressure remains on refiners to keep operating rates low, FGE said.

Oil has recovered from April, when Brent slumped to a 21-year low below $16 and U.S. crude briefly went into negative territory.

A record supply cut since May by the Organization of the Petroleum Exporting Countries and allies, a grouping known as OPEC+, has supported prices.

OPEC began in August to ease the volume of the cutback, raising output by almost 1 million barrels per day according to a Reuters survey.

-----


Earlier:

OIL PRICE: NOT BELOW $44
2020, September, 3, 12:50:00
OIL PRICE: BELOW $44
Brent fell 79 cents, or 1.8%, to $43.64 a barrel, WTI were down 67 cents, or 1.6%, at $40.84 a barrel.
OIL PRICE: NOT BELOW $44
2020, September, 2, 13:15:00
OIL PRICE: BELOW $46 YET
Brent was up 37 cents, or 0.8%, to $45.95 a barrel, WTI rose 34 cents, or 0.8%, to $43.10.
OIL PRICE: NOT BELOW $44
2020, September, 1, 15:05:00
OIL PRICE: BELOW $46 AGAIN
Brent climbed 61 cents to $45.89 a barrel, WTI rose 53 cents, hitting $43.14 a barrel.
OIL PRICE: NOT BELOW $44
2020, August, 31, 12:30:00
OIL PRICE: NOT BELOW $46
Brent advanced to $46.50 a barrel, WTI was at $43.48 a barrel, up 51 cents, or 1.2%.
OIL PRICE: NOT BELOW $44
2020, August, 28, 15:45:20
OIL PRICE: NOT BELOW $45 YET
Brent was down 7 cents to $44.99 a barrel, WTI were down 3 cents to $43.01 a barrel.
OIL PRICE: NOT BELOW $44
2020, August, 27, 13:55:00
OIL PRICE: NOT BELOW $45 AGAIN
Brent rose 6 cents, or, 0.1% to $45.70 a barrel, WTI fell 8 cents or 0.2% to $43.31 a barrel.
OIL PRICE: NOT BELOW $44
2020, August, 27, 13:50:00
U.S. OIL INVENTORIES DOWN BY 4.7 MB TO 507.8 MB
U.S. commercial crude oil inventories decreased by 4.7 million barrels to 507.8 million barrels,
OIL PRICE: NOT BELOW $44
2020, August, 26, 12:45:00
U.S. OIL MARKET UPDOWN
“Although the market remains uncertain, we saw encouraging signs in July with gradual rebalancing of oil supply and demand,” API Chief Economist Dean Forman said. “Increases in U.S. refinery throughput and capacity utilization in July – coupled with inventories receding from record highs – has reinforced expectations for the continued demand recovery.”
All Publications »
Tags: OIL, PRICE, BRENT, WTI
Chronicle:
OIL PRICE: NOT BELOW $44
2021, September, 17, 11:47:00
ENERGY TRANSITION TO CARBON NEUTRALITY AS A FACTOR OF UNPRECEDENTED ACCELERATION OF GLOBAL WARMING
The article reveals the reasons for the unprecedented acceleration of global warming, which was reported by the IPCC in the report "Climate Change 2021", offers proposals for their elimination, as well as for eliminating their consequences.
OIL PRICE: NOT BELOW $44
2021, September, 17, 11:45:00
NO NUCLEAR FOR SPAIN
Under Spain's nuclear phase-out policy, its nuclear fleet is scheduled to shut down by 2035.
OIL PRICE: NOT BELOW $44
2021, September, 17, 11:40:00
WIND ENERGY FOE CHILE 980 MW
The US$700m project, which is expected to generate 2 TWh/year, will include 140 turbines with a maximum power of 7 MW.
OIL PRICE: NOT BELOW $44
2021, September, 17, 11:35:00
U.S. OIL INVENTORIES DOWN BY 6.4 MB TO 417.4 MB
U.S. commercial crude oil inventories decreased by 6.4 million barrels from the previous week to 417.4 million barrels.
OIL PRICE: NOT BELOW $44
2021, September, 16, 14:00:00
OIL PRICE: ABOVE $75
Brent was up 11 cents, or 0.2%, to $75.57 a barrel, WTI was up 11 cents, or 0.2%, to $75.57 a barrel.
OIL PRICE: NOT BELOW $44
2021, September, 16, 13:50:00
EUROPEAN CLIMATE ADAPTATION
Adaptation measures include flood prevention measures and renovating buildings to make them more resilient to extreme temperature. The changes required vary across the continent, but recent events have shown that climate change poses a threat to Europe’s cities.
OIL PRICE: NOT BELOW $44
2021, September, 16, 13:45:00
GAS IS A KEY
Despite adaptations of new fuels and technologies to help achieve the net-zero goal, natural gas will continue to play a vital function for the foreseeable future.
All Publications »