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2021-09-21 13:10:00

OIL PRICE: NEAR $75

OIL PRICE: NEAR $75

REUTERS - Sept 21  - Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global markets remain haunted by the potential impact on China’s economy of a crisis at heavily indebted property group China Evergrande.

Brent crude gained 95 cents or 1.3% to $74.87 a barrel by 0645 GMT, having fallen by almost 2% on Monday. The contract for West Texas Intermediate (WTI), which expires later on Tuesday, was up 91 cents or 1.3% at $71.20 after dropping 2.3% in the previous session.

Global utilities are switching to fuel oil due to rising gas and coal prices, and lingering outages from the Gulf of Mexico after Hurricane Ada that imply less supply is available, ANZ analysts said.

“While slowing Chinese economic growth and uncertainty around the (U.S.) Fed’s tapering timetable weighed on market sentiment, other developments still point to higher oil prices,” ANZ Research said in a note.

Still, investors across financial assets have been rocked by the fallout from heavily indebted Evergrande and the threat of a wider market shakeout in the longer term. 

“Evergrande’s woes are threatening the outlook for the world’s second-largest economy and making some investors question China’s growth outlook and whether it is safe to invest there,” said Edward Moya, senior market analyst at OANDA.

While that view of the state of China’s economy is weighing on markets, the U.S. Federal Reserve is also expected to start tightening monetary policy - likely to make investors warier of riskier assets such as oil.

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Earlier:

OIL PRICE: NEAR $75
2021, September, 20, 12:40:00
OIL PRICE: BELOW $75
Brent fell 61 cents, or 0.8%, to $74.73 a barrel, WTI fell 66 cents, or 0.9%, to $71.31 a barrel.
OIL PRICE: NEAR $75
2021, September, 17, 12:15:00
OIL PRICE: ABOVE $75 YET
Brent fell 35 cents, or 0.5%, to $75.32 a barrel, WTI were down 42 cents, or 0.6%, at $72.19 a barrel.
OIL PRICE: NEAR $75
2021, September, 17, 12:10:00
ЦЕНА URALS: $69,03619
Средняя цена на нефть Urals за период мониторинга с 15 августа 2021 года по 14 сентября 2021 года составила $69,03619 за баррель, или $504,0 за тонну.
OIL PRICE: NEAR $75
2021, September, 16, 14:00:00
OIL PRICE: ABOVE $75
Brent was up 11 cents, or 0.2%, to $75.57 a barrel, WTI was up 11 cents, or 0.2%, to $75.57 a barrel.
OIL PRICE: NEAR $75
2021, September, 14, 12:45:00
OIL PRICE: NEAR $74
Brent was up 50 cents, or 0.7%, at $74.01 a barrel, WTI climbed 43 cents, or 0.6%, to $70.88 a barrel.
OIL PRICE: NEAR $75
2021, September, 14, 12:40:00
WORLD OIL DEMAND GROWTH 6 MBD
World oil demand growth in 2021 remains unchanged from last month’s assessment, showing growth of 6.0 mb/d despite some offsetting revisions.
OIL PRICE: NEAR $75
2021, September, 13, 12:40:00
OIL PRICE: ABOVE $73
Brent rose 67 cents, or 0.9% to $73.59 a barrel, WTI added 66 cents, or 1%, to $70.38.
All Publications »
Tags: OIL, PRICE, BRENT, WTI
Chronicle:
OIL PRICE: NEAR $75
2021, October, 26, 12:55:00
AUSTRALIA ZERO EMISSIONS 2050
Australia's adoption of a net zero emissions target is significant as it is one of the largest producers and exporters of fossil fuels and falling in line with the UN mandated net zero pledge would signal there could be tighter regulations on emissions reduction.
OIL PRICE: NEAR $75
2021, October, 25, 12:30:00
OIL PRICE: ABOVE $86
Brent increased 56 cents, or 0.7%, to $86.09 a barrel, WTI rose 62 cents, or 0.7%, to $84.38 a barrel.
OIL PRICE: NEAR $75
2021, October, 25, 12:25:00
RUSSIA'S CLOSED NUCLEAR CYCLE
Known as ROSA-N, the new model was developed by scientists in Rosatom's Proryv (Breakthrough) project, which works towards deployment of fast reactors and a closed nuclear fuel cycle.
OIL PRICE: NEAR $75
2021, October, 25, 12:20:00
RUSSIAN GAS FOR MONGOLIA
A meeting of the joint working group of Gazprom and the Government of Mongolia on the implementation of the Memorandum of Understanding regarding the project for pipeline gas supplies from Russia to China across Mongolia took place today in Ulan-Bator, Mongolia.
OIL PRICE: NEAR $75
2021, October, 25, 12:15:00
INDIA RENEWABLES 2.4 GW
The Solar Energy Corporation of India (SECI) has initiated a tender for 1,200 MW of wind projects under the tranche XII of the interstate transmission-connected (ISTS) programme.
OIL PRICE: NEAR $75
2021, October, 25, 12:10:00
JAPAN RENEWABLES 38%
The Cabinet of Japan has approved the 2030 renewables target (including hydropower) of 36-38% of the country's power mix by 2030 that was unveiled in July 2021.
OIL PRICE: NEAR $75
2021, October, 25, 12:05:00
CHILE RENEWABLES 80%
Chile has unveiled a new National Energy Policy, a roadmap for the development of the sector, which targets 80% of renewables in power generation by 2030 and 100% by 2050
All Publications »