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!

2021-10-22 11:30:00

OIL PRICE: NOT ABOVE $85 ANEW

OIL PRICE: NOT ABOVE $85 ANEW

REUTERS - Oct 22  - Oil prices fell on Friday with Brent poised for its first weekly dip in seven weeks as demand for oil products in power generation cooled off amid easing coal and gas prices, while a forecast for a mild U.S. winter also weighed on the market.

Brent crude futures dropped 50 cents, or 0.6%, to $84.11 a barrel at 0645 GMT, extending a $1.21 slump in the previous session.

Brent touched a three-year high of $86.10 on Thursday, but was on track to slip 0.9% in the week, the first weekly dip since Sept. 3.

U.S. West Texas Intermediate (WTI) crude futures fell 49 cents, or 0.6%, to $82.01 a barrel, following a 92-cent loss on Thursday.

"Crude oil has witnessed some correction as part of a sell-off across commodities amid renewed virus concerns and forecast of a milder winter in the United States," said Ravindra Rao, vice president, commodities at Kotak Securities.

Winter weather in much of the United States is expected to be warmer than average, according to a National Oceanic and Atmospheric Administration forecast.

The market hit multi-year highs earlier in the week on worries about coal and gas shortages in China, India and Europe, which spurred fuel-switching to diesel and fuel oil for power.

"Crude oil's sharp rise may make it vulnerable to profit taking, however, a substantial correction may not happen unless global energy crisis subsides," Rao said.

"Global gas and coal prices have eased but concerns persist with tighter market and higher demand winter season around the corner."

U.S. crude found support earlier this week as investors eyed low crude stocks at the major Cushing storage hub in Oklahoma.

"There are clear concerns over the inventory drain that we are seeing at the WTI delivery hub, Cushing," ING commodities strategists said in a note.

U.S. Energy Information Administration data on Wednesday showed crude stocks at Cushing fell to 31.2 million barrels, their lowest level since October 2018.

"In a broader future, oil prices should move higher on its supply and demand relationship, but the bullish sentiment provoked by a surprise draw of U.S. inventory may have been digested," said Leona Liu, analyst at Singapore-based DailyFX.

-----


Earlier:

OIL PRICE: NOT ABOVE $85 ANEW
2021, October, 21, 15:35:00
OIL PRICE: NEAR $85 ANEW
Brent rose as high as $86.10 and was down 92 cents, or 1.1%, to $84.90. WTI fell 74 cents, or 0.9%, to $82.68.
OIL PRICE: NOT ABOVE $85 ANEW
2021, October, 21, 15:30:00
INDIA, OPEC OIL DEAL
India, the world's third-biggest importer and consumer of crude, meets around 85% of its demand via overseas purchases with Iraq, Saudi Arabia and the United States being the top three suppliers. India also imports 55% of its gas demand via imports.
OIL PRICE: NOT ABOVE $85 ANEW
2021, October, 20, 11:50:00
OIL PRICE: BELOW $85
Brent dropped 64 cents, or 0.8%, to $84.44 a barrel. WTI fell 56 cents to $82.40 a barrel.
OIL PRICE: NOT ABOVE $85 ANEW
2021, October, 19, 12:55:00
OIL PRICE: NEAR $85
Brent rose 35 cents, or 0.4%, to $84.68 a barrel. WTI gained 70 cents, or 0.9%, to $83.14.
OIL PRICE: NOT ABOVE $85 ANEW
2021, October, 19, 12:40:00
ЦЕНА URALS: $76,76727
Средняя цена на нефть Urals за период мониторинга с 15 сентября 2021 года по 14 октября 2021 года составила $76,76727 за баррель, или $560,4 за тонну.
OIL PRICE: NOT ABOVE $85 ANEW
2021, October, 18, 12:40:00
ВОССТАНОВЛЕНИЕ НЕФТЯНОГО РЫНКА
«Нефтяной рынок восстанавливается последовательно. Мы видим, что в 2021 году общий рост спроса составит 6 млн баррелей, а к концу года мы надеемся на полное восстановление спроса»,
OIL PRICE: NOT ABOVE $85 ANEW
2021, October, 14, 12:55:00
OIL PRICES 2021-22: $81-$72
We expect Brent prices will remain near current levels for the remainder of 2021, averaging $81/b during the fourth quarter of 2021. In 2022, we expect that growth in production from OPEC+, U.S. tight oil, and other non-OPEC countries will outpace slowing growth in global oil consumption and contribute to Brent prices declining from current levels to an annual average of $72/b.
All Publications »
Tags: OIL, PRICE, BRENT, WTI
Chronicle:
OIL PRICE: NOT ABOVE $85 ANEW
2021, December, 2, 12:09:00
TRANSPORTATION OIL AND GAS CONGRESS, 21th-22th of February, 2022
Business and Technical Views On The Market At The Transportation Oil and Gas Congress 2022
OIL PRICE: NOT ABOVE $85 ANEW
2021, December, 2, 12:08:00
LEARN THE LATEST GLOBAL LNG TRENDS WITH LNGCON 2022
The next edition of the International LNG Congress (LNGCON 2022) takes place in Dusseldorf, Germany on March 28-30, 2022. Covering the whole LNG value chain, the Congress brings together decision makers of the industry to tackle the most relevant issues such as the role of LNG in the transition towards zero-carbon shipping.
OIL PRICE: NOT ABOVE $85 ANEW
2021, December, 2, 12:07:00
ENERGY WEEK CENTRAL ASIA & MONGOLIA 2022
To learn more, join the upcoming high-level international investment conference Energy Week Central Asia & Mongolia 2022, which will take place on 26-28th April in Tashkent.
OIL PRICE: NOT ABOVE $85 ANEW
2021, December, 2, 12:06:00
WORLD GAS CONFERENCE 2022
The 28th World Gas Conference (WGC 2022) takes place in Daegu, the energy city of Korea in May 2022.
OIL PRICE: NOT ABOVE $85 ANEW
2021, December, 2, 12:05:00
GAZPROM GAS PRODUCTION +14.7%
Brent rose $3.25, or 4.7%, to $72.48 a barrel, WTI rose $3.01, or 4.6%, to $69.19 a barrel.
OIL PRICE: NOT ABOVE $85 ANEW
2021, December, 2, 12:00:00
RENEWABLES FOR POLAND
The measure was initially approved in 2017, with a budget of approximately €9.4bn (PLN40bn), and was set to expire on 30 June 2021.
OIL PRICE: NOT ABOVE $85 ANEW
2021, December, 1, 16:15:00
OIL PRICE: NOT BELOW $72
Brent rose $3.25, or 4.7%, to $72.48 a barrel, WTI rose $3.01, or 4.6%, to $69.19 a barrel.
All Publications »