2022-05-11 10:50:00
GLOBAL MARKETS MINIMUMS
Monday Globex session saw record lows being printed on majority of markets within the globe.
Starting off with weakness in Asia following the previous slump on US Equities & Futures.
On the Oil tabs, we saw the week start off low,showing weakness in the #BRENT at -4.17% trading at $107.70/bbl,#CrudeOil at -4.51% just at $104.82/bbl and #NG which showed the biggest slump at -8%.
Good bias is upon the underlying support zone on the CL at $100.47 for any further moves as last week was volatile enough for the Bulls to grow the horns,some had to get de-horned sooner rather than later.
There have been ongoing talks on the Russian Oil ban by the EU with more developments as the week progresses.
US wholesale gasoline futures close Friday at a record high settlement price of 375.9 cents per gallon. More pain at the pump it seems.
Nice month ahead from the team,
Andy Warr,
TophatFinance.
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Earlier:
2022, May, 6, 11:30:00
OIL PRICE: BRENT BELOW $112, WTI BELOW $109
Brent rose 88 cents, or 0.8%, to $111.78 a barrel, WTI climbed 84 cents, or 0.8%, to $109.10 a barrel.
2022, May, 6, 11:25:00
ОПЕК + РОССИЯ + 432 ТБД
Участники соглашения сохранили в силе достигнутые ранее договорённости о дальнейшем наращивании производства нефти в июне на уровне 432 тыс. баррелей в сутки.
2022, May, 6, 11:20:00
OPEC+ RUSSIA + 0.432 MBD
Reconfirm 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 June 2022, as per the attached schedule.
2022, May, 5, 14:55:00
OIL PRICE: BRENT NEAR $111, WTI ABOVE $108
Brent was up 36 cents, or 0.3%, at $110.50 a barrel, WTI rose 4 cents, or less than 0.1%, to $107.85.
2022, May, 5, 14:50:00
OPEC OIL PRICE: $110.83
The price of OPEC basket of thirteen crudes stood at $110.83 a barrel on Wednesday,
2022, May, 5, 14:45:00
OPEC+ PRODUCTION +432 TBD
Five OPEC+ delegates said the group was set to agree to increase its June output target by 432,000 barrels per day, in line with its existing plan to unwind output curbs made during the worst of the COVID-19 pandemic in 2020.
2022, May, 4, 12:30:00
OIL PRICE: BRENT NEAR $108, WTI NEAR $106
Brent rose $2.94, or 2.8%, to $107.91 a barrel, WTI rose $3.02, or 3%, to $105.43 a barrel.
2022, May, 4, 12:25:00
OPEC OIL PRICE: $109.80
The price of OPEC basket of thirteen crudes stood at $109.80 a barrel on Tuesday
2022, May, 4, 12:20:00
RUSSIAN OIL FOR INDIA
Urals has been trading at record-lows in recent weeks, with some deals being done at discount of almost $40/b to the Platts Dated Brent crude oil benchmark.
2022, April, 22, 11:35:00
OPEC OIL PRICE: $108.81
The price of OPEC basket of thirteen crudes stood at $108.81 a barrel on Thursday, compared with $107.97 the previous day, according to OPEC Secretariat calculations
