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!

2022-04-04 12:35:00

OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99

OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99

REUTERS - April 4 - Oil rose above $105 a barrel on Monday as concern about tight supply arising from Russia's invasion of Ukraine and the lack of an Iranian nuclear deal persisted despite countries releasing oil from strategic reserves.

The invasion of Ukraine in February sharply ramped up supply worries that were already underpinning oil prices. Sanctions imposed on Russia and buyers' avoidance of Russian oil have raised fears of larger supply losses from this month.

Brent crude was up 63 cents, or 0.6%, to $105.02 a barrel by 0805 GMT. U.S. West Texas Intermediate crude gained $1.08, or 1.1%, to $100.35. Both contracts slipped $1 when markets opened on Monday.

"Will the release of barrels from strategic reserves fill a shortfall caused by sanctions and buyer aversion to Russian oil? In a word, no," said Stephen Brennock of oil broker PVM.

Brent dropped by about 13% last week after U.S. President Joe Biden announced a record U.S. oil reserves release and International Energy Agency members committed to further tapping reserves. Crude had hit $139 last month, its highest since 2008.

"This short-term measure to target lower oil prices ... doesn't resolve the long-term problem," said Naeem Aslam of Avatrade.

Oil also gained support from a pause in talks to revive the Iranian nuclear deal, which would allow a lifting of sanctions on Iranian oil. Iran on Monday blamed the United States for the halt.

Some downward pressure on prices came from a truce in Yemen, which could ease threats to supply in the Middle East.

The United Nations has brokered a two-month truce between a Saudi-led coalition and the Houthi group aligned with Iran for the first time in the seven-year conflict.

Saudi oil facilities have come under attack by the Houthis during the conflict, adding to supply disruption from Russia.

-----


Earlier:

OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2022, April, 1, 11:50:00
OIL PRICE: BRENT BELOW $104, WTI BELOW $100
Brent slid by 79 cents to $103.92 a barrel, WTI were down $1.02 at $99.26 a barrel.
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2022, April, 1, 11:40:00
OPEC+ 432 TBD
Reconfirm the baseline adjustment, the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.432 mb/d for the month of May 2022, as per the attached schedule.
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2022, April, 1, 11:35:00
OPEC OIL PRICE: $110.46
The price of OPEC basket of thirteen crudes stood at $110.46 a barrel on Wednesday,
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2022, March, 31, 14:10:00
OIL PRICE: BRENT BELOW $107, WTI BELOW $102
Brent fell $4.87, or 4.3%, to $108.58 a barrel, WTI fell $5.90, or 5.5%, to $101.92 a barrel .
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2022, March, 31, 14:05:00
OPEC OIL PRICE: $110.05
the price of OPEC basket of thirteen crudes stood at $110.46 a barrel
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2022, March, 30, 10:55:00
OPEC+ WITHOUT POLICIES
Commenting on the Russia-Ukraine conflict, Saudi Arabia’s Prince Abdulaziz bin Salman said that OPEC puts political differences aside when its ministers meet and OPEC+ is doing the same.
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2022, March, 30, 10:50:00
OPEC+ RUSSIA SUPPLY THE MARKET
Russian deputy prime minister Alexander Novak said March 23 that it was too early to talk about an adjustment to Russia's quota under the agreement, as Russia continues to supply the market.
All Publications »
Tags: OIL, PRICE, BRENT, WTI, OPEC, RUSSIA
Chronicle:
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2023, February, 1, 12:04:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2023, February, 1, 12:03:00
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: BRENT ABOVE $104, WTI ABOVE $99
2023, February, 1, 12:00:00
GLOBAL GROWTH WILL DOWN
Global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024.
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2023, February, 1, 11:55:00
S.KOREAN NUCLEAR FOR TURKEY
KEPCO CEO Seung-il Jeong presented the proposal to Fatih Dönmez, Turkey's Minister of Energy and Natural Resources, on 30 January during a meeting in which they discussed plans for KEPCO to participate in the nuclear power plant project.
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2023, February, 1, 11:50:00
OIL AND GAS AUTOMATION AND DIGITALIZATION 2023
Event Title: Oil and Gas Automation and Digitalization 2023 Conference Date: 03 - 04 May 2023 Event Type: In-Person Event Event Organizer: PTN Events
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2023, February, 1, 11:45:00
СПГ КОНГРЕСС РОССИЯ 2023
СПГ Конгресс Россия – это международная инвестиционная площадка, где традиционно собираются лидеры индустрии. Ежегодно в мероприятии принимают участие более 250 операторов крупно-, средне- и малотоннажных СПГ-проектов, водородных проектов, правительство и технологические лидеры СПГ-индустрии.
OIL PRICE: BRENT ABOVE $104, WTI ABOVE $99
2023, January, 30, 11:45:00
OIL PRICE: BRENT NEAR $86, WTI NEAR $79
Brent fell 74 cents, or 0.8%, to $85.92 a barrel , WTI was at $79.07 a barrel, down 61 cents, or 0.8%.
All Publications »