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!

2021-03-01 11:00:00

OIL PRICE: NOT ABOVE $66

OIL PRICE: NOT ABOVE $66

REUTERS - MARCH 1, 2021 -  Oil prices rebounded more than $1 on Monday after the U.S. House of Representatives passed a huge stimulus package, although a drop in China’s February factory activity growth capped gains. 

Brent crude futures for May rose $1.07, or 1.7%, to $65.49 per barrel by 0410 GMT. The April contract expired on Friday. 

U.S. West Texas Intermediate (WTI) crude futures jumped $1.01, or 1.6%, to $62.51 a barrel. 

Front-month prices for both contracts touched 13-month highs last week, slipping back on Friday along with wider financial markets following a bond rout amid inflation fears. 

“Oil prices are recovering this morning in line with most risk assets on the back of the U.S. stimulus bill passing the House,” Stephen Innes, chief global markets strategist at Axi, wrote in a note on Monday.

The U.S. House passed a $1.9 trillion coronavirus relief package early on Saturday, lifting investors’ risk appetite and Asian stock markets. The package will now move to the U.S. Senate for further deliberation.

The approval of Johnson & Johnson’s COVID-19 shot also buoyed the economic outlook.

Manufacturing data from top Asian oil importers were mixed, however, as China’s factory activity growth slipped to a nine-month low in February, while manufacturing in Japan expanded the fastest in more than two years.

Crude supplies going into top importer China are expected to ease in the second quarter as the oil price rally cooled demand. Preliminary data also showed that South Korea’s February imports are down 14.7% from a year earlier.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, will meet on Thursday and could discuss allowing as much as 1.5 million barrels per day of crude back in the market.

“We think if the combined (OPEC+) increase does not exceed 500,000 bpd, that will be bullish for prices,” analysts at Singapore’s OCBC bank said.

Separately, Iran on Sunday dismissed opening talks with the United States and the European Union to revive the 2015 nuclear deal, insisting Washington must first lift the unilateral sanctions that have sharply reduced Iranian oil exports. 

-----


Earlier:

OIL PRICE: NOT ABOVE $66
2021, February, 26, 11:50:00
OIL PRICE: NOT ABOVE $67
Brent fell 63 cents, or 0.9%, to $66.25 a barrel. WTI dropped 72 cents, or 1.1%, to $62.81 a barrel.
OIL PRICE: NOT ABOVE $66
2021, February, 25, 12:25:00
OIL PRICE: ABOVE $67
Brent gained 37 cents, 0.6%, to $67.41 a barrel. WTI was at $63.54 a barrel, up 32 cents, 0.5%.
OIL PRICE: NOT ABOVE $66
2021, February, 24, 11:05:00
OIL PRICE: NEAR $65 ANEW
Brent fell 35 cents, or 0.5%, to $65.02 a barrel. WTI were down 56 cents or 0.9% at $61.11 a barrel.
OIL PRICE: NOT ABOVE $66
2021, February, 19, 13:25:00
OIL PRICE: NEAR $63
Brent dropped 87 cents, or 1.4%, to $63.06 a barrel. WTI fell 82 cents, or 1.4%, to $59.70 a barrel.
OIL PRICE: NOT ABOVE $66
2021, February, 19, 13:20:00
FOSSIL FUELS DOMINATION
Fossil fuels are expected to dominate the primary energy mix thru 2040, even in scenarios where countries meet the Paris Agreement’s climate goals.
OIL PRICE: NOT ABOVE $66
2021, February, 18, 12:55:00
OIL PRICE: NEAR $65
Brent was up 56 cents, or 0.9%, at $64.90 a barrel. WTI gained 46 cents, or 0.8%, to $61.60 a barrel.
OIL PRICE: NOT ABOVE $66
2021, February, 17, 16:05:00
OIL PRICE: ABOVE $63 YET
Brent gained 38 cents, or 0.6%, to $63.73 a barrel. WTI rose 21 cents, or 0.4%, to $60.26 a barrel.
All Publications »
Tags: OIL, PRICE, BRENT, WTI
Chronicle:
OIL PRICE: NOT ABOVE $66
2022, January, 20, 15:29:00
ГИДРОЭНЕРГЕТИКА ЦЕНТРАЛЬНАЯ АЗИЯ И КАСПИЙ 2022, ВЫСТАВКА И КОНГРЕСС
Рады сообщить, что свое участие в 6-м ежегодном международном конгрессе и выставке «Гидроэнергетика Центральная Азия и Каспий 2022» (г. Душанбе, Таджикистан, 16-17 февраля) подтвердили уже более 150 руководителей ключевых энергетических компаний региона.
OIL PRICE: NOT ABOVE $66
2022, January, 20, 15:28:00
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 $66
2022, January, 20, 15:27:00
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 $66
2022, January, 20, 15:26:00
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 $66
2022, January, 20, 15:25:00
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 $66
2022, January, 20, 15:24:00
ARABIAN GREEN HYDROGEN $5 BLN
Engie plans to create a green hydrogen hub in the UAE and potentially other regions in a deal worth $5 billion, with the first 200 MW green hydrogen and ammonia project being developed in Abu Dhabi.
OIL PRICE: NOT ABOVE $66
2022, January, 20, 15:20:00
INDONESIA'S ELECTRICITY + 3 GW
In 2022, the country is expected to commission 2,950 MW of power capacity and to build 4,632 km of transmission lines.
All Publications »