2024-11-08 07:00:00
OIL PRICE: BRENT ABOVE $75, WTI NEAR $72
REUTERS - Nov 8, 2024 - Oil prices fell slightly on Friday as the risk that a hurricane in the Gulf of Mexico will significantly affect U.S. oil and gas output declined, while the market weighs how President-elect Donald Trump's policies might affect supplies.
Brent crude oil futures fell 47 cents, or 0.6%, to $75.16 per barrel by 0446 GMT. U.S. West Texas Intermediate (WTI) crude fell 55 cents or 0.8% to $71.81. The benchmarks fell after rising nearly 1% on Thursday.
For the week, Brent is set to gain 3.1% while WTI is set to rise 4.1%.
Hurricane Rafael, which has caused 391,214 barrels per day of U.S. crude oil production to be shut, is expected to move slowly westward over the Gulf of Mexico and away from U.S. fields while forecast to weaken from Friday and through the weekend, the U.S. National Hurricane Center said.
Prices gained support on Thursday on expected actions by the incoming Trump administration such as tighter sanctions on Iran and Venezuela, which could limit their supply to global markets.
"Our core view sees Trump adopt a relatively pragmatic approach to policy, in which he either chooses not to pursue more radical policy shifts, or is held back by institutional constraints or the influence of more moderate policy advisers," BMI, a unit of Fitch Solutions, said in a note on Friday.
Downward pressure came from data showing crude imports in China, the world's biggest oil importer, fell 9% in October, the sixth consecutive month showing a year-on-year decline, as well as from a rise in U.S. crude inventories.
"The impact (of the Trump administration) on oil market fundamentals in 2025 will likely be somewhat limited," BMI said.
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Earlier:
2024, November, 5, 07:00:00
OIL PRICE: BRENT ABOVE $75, WTI ABOVE $71
Brent ticked up 14 cents, or 0.19%, to $75.22 a barrel, WTI was at $71.6 a barrel, up 13 cents, or 0.18%.
2024, November, 5, 06:55:00
OPEC OIL PRODUCTION UP
Supplies from the Organization of Petroleum Exporting Countries increased by 370,000 barrels a day to 29.9 million a day in October, according to a Bloomberg survey. The gain was tempered by reductions in Iraq, Iran and Saudi Arabia.
2024, October, 23, 07:00:00
OIL PRICE: BRENT NEAR $76, WTI ABOVE $71
Brent dipped 20 cents, or 0.3%, to $75.84 a barrel , WTI shed 20 cents, or 0.3%, to $71.54 a barrel.
2024, October, 18, 07:00:00
OIL PRICE: BRENT ABOVE $74, WTI NEAR $71 ANEW
Brent gained 8 cents, or 0.1%, to $74.53 a barrel, WTI fwas at $70.82 a barrel, up 15 cents, or 0.2%.
2024, October, 18, 06:50:00
ГЛОБАЛЬНОЕ ЭНЕРГЕТИЧЕСКОЕ СОТРУДНИЧЕСТВО
«В государствах-членах ФСЭГ сосредоточено около 70% всех мировых запасов газа, а доля в мировом экспорте составляет 40%. Это важная площадка, позволяющая разрабатывать основные подходы и тенденции к будущему газовой отрасли»,
2024, October, 8, 07:00:00
OIL PRICE: BRENT NEAR $80, WTI NEAR $76
Brent fell $1.17, or 1.5%, to $79.76 per barrel, WTI fell $1.19, or 1.6%, to $75.95 a barrel.
2024, October, 7, 06:55:00
RUSSIAN OIL REVENUE +4%
The Russian budget received a total of 597.2 billion rubles ($6.28 billion) from its oil industry last month, up nearly 4% from a year earlier, the Finance Ministry said on Thursday.
2024, October, 7, 06:45:00
ГЛОБАЛЬНЫЙ ЭНЕРГОПЕРЕХОД
По словам Главы Минэнерго России, сейчас весь мир находится в условиях энергоперехода. Для эффективной работы ТЭК дружественным странам следует консолидировать усилия.
