2021-01-14 14:25:00
OIL PRICE: BELOW $56
REUTERS - JANUARY 14, 2021 - Oil prices dipped on Thursday as bullish signals from Chinese import data and U.S. crude oil stocks draws were outweighed by surging coronavirus cases in Europe and new lockdowns in China.
Brent crude oil futures fell 36 cents to $55.70 a barrel by 0917 GMT, while U.S. West Texas Intermediate (WTI) dropped 26 cents to $52.65.
Brent’s six-month backwardation, whereby contracts for later delivery are cheaper, fell to its lowest since Jan. 5, indicating bullish sentiment easing.
China, the world’s second-largest oil consumer, reported its biggest daily jump in new COVID-19 cases in more than 10 months as infections in a northeastern province nearly tripled.
Governments across Europe have announced tighter and longer coronavirus lockdowns, with vaccinations not expected to have significant impact for the next few months.
Oil producers face an unprecedented challenge balancing supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook, said an official at the International Energy Agency (IEA).
“This (price) retracement, although it might last more than just one day, should not be prolonged and violent,” said PVM analyst Tamas Varga, pointing to Saudi Arabia throttling oil supply to some Asian buyers.
Supporting prices, China’s total crude oil imports rose 7.3% in 2020 despite the coronavirus shock, with record arrivals in the second and third quarters as refineries expanded operations and low prices encouraged stockpiling, customs data showed.
Also giving a floor to prices, U.S. crude oil stockpiles last week fell more than expected, though gasoline and distillate inventories rose as refiners ramped up output to the highest level since August, the Energy Information Administration said on Wednesday.
Raising hopes of increased oil demand was a hefty U.S. COVID-19 relief package, which President-elect Joe Biden is due to unveil on Thursday.
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Earlier:
2021, January, 13, 13:55:00
OIL PRICE: ABOVE $56
Brent was up 36 cents, or 0.6%, at $56.94 a barrel. WTI was up 34 cents, or 0.6%, at $53.55 a barrel.
2021, January, 13, 13:50:00
OIL PRICES 2021-22: $53
Brent crude oil spot prices to average $53 per barrel (b) in both 2021 and 2022 compared with an average of $42/b in 2020.
2021, January, 12, 11:40:00
OIL PRICE: NEAR $56
Brent climbed 22 cents, or 0.4%, to $55.88 a barrel. WTI gained 25 cents, or 0.5%, to $52.50 a barrel.
2021, January, 12, 11:35:00
ABU DHABI OIL PRICE UP
Government-owned Abu Dhabi National Oil Co. set Murban crude at a premium of 75 cents a barrel to the regional benchmark,
2021, January, 11, 13:05:00
OIL PRICE: NEAR $55 ANEW
Brent were down 78 cents, or 1.4%, at $55.21 a barrel. WTI slipped 52 cents, or 1%, to $51.72 a barrel.
2021, January, 11, 13:00:00
ЦЕНА URALS: $41,73
Средняя цена на нефть марки Urals в январе-декабре 2020 года сложилась в размере $41,73 за баррель, в январе-декабре 2019 года - $63,59 за баррель.
2021, January, 11, 12:55:00
РОССИЯ ВЫПОЛНЯЕТ УСЛОВИЯ СДЕЛКИ
«В феврале, а также в марте Россия будет увеличивать добычу по 65 тыс. баррелей в сутки, суммарно это 130 тыс. баррелей к январскому уровню. Россия ответственно относится к сделке, мы выполняем её условия близко к 100% и полностью соответствуем тому, что заложено в соглашении, с учетом постепенного увеличения спроса», – отметил вице-премьер.
