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2021-12-06 13:05:00

OIL PRICE: NOT BELOW $71 ANEW

OIL PRICE: NOT BELOW $71 ANEW

REUTERS - Dec 6 - Oil rose by more than $1 a barrel to above $71 on Monday as hopes that the Omicron coronavirus variant may cause mostly mild symptoms boosted riskier assets and as the prospect of an imminent rise in Iranian oil exports looked less likely.

Helping ease Omicron concerns, reports in South Africa said cases there only had mild symptoms and the top U.S. infectious disease official told CNN "it does not look like there's a great degree of severity" so far. 

Brent crude gained $1.77, or 2.5%, to $71.65 by 0920 GMT while U.S. West Texas Intermediate crude advanced $1.69, or 2.6%, to $67.95. Both benchmarks declined for a sixth week in a row last week.

"If Omicron is proven over the coming days (or weeks) to be less aggressive, even if it is more contagious, then we can say 100% last week's lows were the bargain of the quarter," said Jeffrey Halley, an analyst at brokerage OANDA.

The easing of Omicron fears also boosted European equities and safer havens like bonds gave up some recent gains.

Brent has risen 38% this year, supported by output curbs led by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, and recovering demand, although it has fallen from a three-year high above $86 in October.

OPEC+ decided last week to continue increasing monthly supply by 400,000 barrels per day in January, even after a slide in prices driven by Omicron concerns. 

On Sunday, Saudi Arabia raised January official selling prices for all crude grades sold to Asia and the United States by up to 80 cents from the previous month. 

Oil was also buoyed by diminishing prospects of a rise in Iranian oil exports after indirect U.S.-Iranian talks on saving the 2015 Iran nuclear deal broke off last week. 

 

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Earlier:

OIL PRICE: NOT BELOW $71 ANEW
2021, December, 3, 12:10:00
OIL PRICE: NOT BELOW $71
Brent rose $1.34 cents, or 1.9%, to $71.01 a barrel, WTI rose $1.38, or 2.1%, to $67.88 a barrel.
OIL PRICE: NOT BELOW $71 ANEW
2021, December, 3, 12:05:00
ОПЕК + РОССИЯ: + 400 ТБД
Страны – участницы заседания подтвердили свои планы сохранить ранее утверждённые договорённости о продолжении увеличения добычи на суммарно 400 тыс. баррелей в сутки в январе 2022 года, сообщил Александр Новак по итогам заседания.
OIL PRICE: NOT BELOW $71 ANEW
2021, December, 3, 12:00:00
OPEC + RUSSIA: + 400 TBD
Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th ONOMM and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of January 2022, as per the attached schedule.
OIL PRICE: NOT BELOW $71 ANEW
2021, December, 3, 11:50:00
ЦЕНА URALS: $68,66
Средняя цена на нефть марки Urals в январе-ноябре 2021 года сложилась в размере $68,66 за баррель, в январе-ноябре 2020 года - $41,04 за баррель.
OIL PRICE: NOT BELOW $71 ANEW
2021, December, 2, 12:35:00
OIL PRICE: NEAR $70
Brent rose $1.24, or 1.8%, to $70.11 a barrel, WTI gained $1.13, or 1.7%, to $66.70 a barrel.
OIL PRICE: NOT BELOW $71 ANEW
2021, December, 2, 12:30:00
OPEC REMAIN PRUDENT
In these uncertain times, it is imperative that we – together with the non-OPEC countries in the DoC – remain prudent in our approach and prepared to be proactive as market conditions warrant.
OIL PRICE: NOT BELOW $71 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 »
Tags: OIL, PRICE, BRENT, WTI
Chronicle:
OIL PRICE: NOT BELOW $71 ANEW
2022, July, 5, 12:09:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
OIL PRICE: NOT BELOW $71 ANEW
2022, July, 5, 12:08:00
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 BELOW $71 ANEW
2022, July, 5, 12:05:00
GLOBAL NUCLEAR SMR STANDARDIZATION
Senior nuclear regulators and industry leaders met for the first time under the IAEA’s Nuclear Harmonization and Standardization Initiative (NHSI) on 23-24 June to discuss roadmaps to accelerate the safe and secure deployment of advanced nuclear reactors, with a particular focus on small modular reactors (SMRs).
OIL PRICE: NOT BELOW $71 ANEW
2022, July, 5, 12:00:00
RUSSIAN NUCLEAR FOR EGYPT
El-Dabaa - Egypt's first NPP - is to be built in the province of Matruh on the Mediterranean coast, about 300km north-west of Cairo.
OIL PRICE: NOT BELOW $71 ANEW
2022, July, 5, 11:55:00
STRONG OIL VOLATILITY
Last week we saw major volatility on the Oil tabs especially on the Bearish alignment,as the rangebound zones maintained within the Crude Oil WTI
OIL PRICE: NOT BELOW $71 ANEW
2022, July, 5, 11:50:00
RUSSIAN LNG CONTROL
The decree created a new Russian firm that will take over all rights and obligations of Sakhalin Energy Investment Corporation.
OIL PRICE: NOT BELOW $71 ANEW
2022, July, 5, 11:45:00
WORLDWIDE RIG COUNT UP 78 TO 1,706
The Worldwide Rig Count for May was 1,706, up 78 from the 1,628 counted in May 2022,and up 381 from the 1,325 counted in May 2021.
All Publications »