2021-07-29 13:55:00
OIL PRICE: NEAR $75 YET
REUTERS - July 29, 2021 - Global benchmark Brent oil prices rose above $75 a barrel on Thursday as crude inventories in the world's top oil consumer, the United States, fell to their lowest since January 2020.
Brent gained 43 cents, or 0.6%, to trade at $75.17 by 0930 GMT, while the U.S. benchmark West Texas Intermediate (WTI) crude climbed 51 cents, or 0.7 %, to $72.90.
In June, Brent topped $75 for the first time in more than two years but fell back this month on fears that the rapid spread of the coronavirus Delta variant could hurt demand and a deal reached by leading producers in OPEC to boost supply.
"The (oil inventory) falls suggest the rise in cases of COVID-19's Delta variant is having little impact on mobility," ANZ analysts wrote in a note.
Crude inventories fell by 4.1 million barrels in the week to July 23, the U.S. Energy Information Administration (EIA) said, helped by lower imports and a decline in weekly output.
The U.S. economic recovery is still on track despite the rise in infections, the Federal Reserve said on Wednesday, flagging ongoing talks around the eventual withdrawal of monetary policy support.
"While the risk to the demand outlook could increase due to governments across Europe reducing permission for public gatherings, we note that markets have already undergone several rounds of mobility restrictions ... yet, the global recovery was not significantly derailed," Citi analysts said in a note.
Further support for prices came from Iran's statement that blamed the United States for a pause in nuclear talks, which could mean a delay in a return of Iranian barrels to the market.
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Earlier:
2021, July, 28, 11:05:00
OIL PRICE: NOT ABOVE $75 AGAIN
Brent rose 38 cents, or 0.5%, to $74.86 a barrel , WTI were up 42 cents, or 0.6%, at $72.07 a barrel.
2021, July, 27, 11:10:00
OIL PRICE: NOT ABOVE $75 ANEW
Brent climbed 34 cents, or 0.46%, to $74.84 a barrel , WTI rose 20 cents, or 0.28%, to $72.11 a barrel.
2021, July, 27, 11:05:00
OPEC+ 400 TBD
После длительных консультаций страны ОПЕК+ договорились о продлении Соглашения о сотрудничестве ОПЕК+ до конца 2022 года, при этом начиная с августа этого года все страны соглашения будут ежемесячно увеличивать добычу нефти на 400 тыс. баррелей в сутки.
2021, July, 9, 12:30:00
OIL PRICE: NOT ABOVE $75
Brent were up 60 cents, or 0.8%, at $74.72 a barrel , WTI were up 69 cents, or 1%, at $73.63.
2021, July, 8, 12:50:00
OIL PRICE: NEAR $73
Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.
2021, July, 8, 12:45:00
OIL PRICES 2021-22: $72-$67
We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).
2021, July, 7, 11:25:00
OPEC+ NO QUOTAS
The OPEC+ had failed to agree to increase production quotas from August onward after the UAE objected to Saudi Arabia's plan to tie the production increases to a lengthening of the supply management pact through to the end of 2022.
