2024-06-26 07:00:00
OIL PRICE: BRENT ABOVE $85, WTI ABOVE $81
REUTERS - June 26, 2024 - Oil prices inched up during Asian trade on Wednesday despite a surprise jump in U.S. stockpiles, driven by geopolitical risks from the Middle East conflict and forecasts of an eventual inventory drawdown during the third quarter peak demand season.
Brent crude oil futures rose 40 cents, or 0.5%, to $85.41 a barrel by 0406 GMT. U.S. West Texas Intermediate crude futures gained 43 cents, or 0.5%, to $81.26 per barrel.
"It seems the market is shrugging off demand concerns for now, anticipating inventory drawdowns in peak third quarter demand season. Official Energy Information Administration (EIA) inventory numbers today will provide the market further pointers on the trend," said Suvro Sarkar, energy sector team lead at DBS Bank.
The American Petroleum Institute (API) reported U.S. crude oil stocks rose by 914,000 barrels in the week ended June 21, according to market sources briefed on the data. Analysts polled by Reuters expect crude stocks to have declined by nearly 3 million barrels last week.
Official U.S. government data from the EIA on oil and fuel stockpiles is due at 1430 GMT.
Despite the near term pressure of a stronger dollar and bearish U.S. crude oil stocks data, the market is likely to find support on the back of continued OPEC+ cuts and stronger seasonal demand during the third quarter, said Warren Patterson, head of commodities strategy at ING.
"Our balance suggests the (global) market will be in a roughly 1.5 million barrels per day deficit in the third quarter due to continued OPEC+ cuts and stronger seasonal demand usually seen in the third quarter. We are already seeing signs of tightening with a stronger North Sea physical market."
Additionally, increasing geopolitical risks with Houthi attacks in the Red Sea and mounting Israel-Hezbollah hostilities in Lebanon are also bullish for oil prices, DBS' Sarkar said.
Yemen's Iran-aligned Houthi group has been launching drone and missile strikes in shipping lanes since November, saying they are in solidarity with Palestinians in Gaza in the Israel-Hamas war. This has disrupted shipping in the Red Sea corridor, stoking concerns over freight flow.
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Earlier:
2024, June, 24, 07:00:00
OIL PRICE: BRENT NEAR $85, WTI ABOVE $80
Brent slid 40 cents, or 0.5%, to $84.84 a barrel, WTI were at $80.34 a barrel, down 39 cents, or 0.5%.
2024, June, 19, 07:00:00
OIL PRICE: BRENT ABOVE $85, WTI ABOVE $81
Brent rose 2 cents to $85.35 a barrel, WTI was down 6 cents to $81.51 per barrel.
2024, June, 19, 06:45:00
РОССИЯ: НАДЕЖНЫЙ ЭНЕРГОПЕРЕХОД
Для ускорения энергетического перехода в России уже внедрены механизмы привлечения инвестиций в строительство объектов ВИЭ, действует программа развития микро-генерации на ВИЭ у граждан и в домашних хозяйствах, внедрена система добровольного изменения объемов потребления потребителями, а также реализуется дорожная карта по развитию систем накопления энергии.
2024, June, 13, 07:00:00
OIL PRICE: BRENT ABOVE $82, WTI ABOVE $78
Brent lost 14 cents, or 0.17%, to $82.46 a barrel, WTI fell 16 cents, or 0.2%, to hit $78.34.
2024, June, 13, 06:55:00
ГЛОБАЛЬНАЯ ЭНЕРГЕТИКА РОССИИ
Около 80% энергетических ресурсов перенаправлено на дружественные рынки, в основном в Азиатско-Тихоокеанский регион, Африку, страны Латинской Америки.
2024, June, 13, 06:50:00
ГЛОБАЛЬНАЯ НЕФТЬ: ВЫШЕ ОЖИДАНИЙ
Согласно прогнозам ОПЕК+, спрос на нефть в 2024 году вырастет на 2,2 млн баррелей в сутки (б/с), до 102 млн б/с. «В перспективе до 2030 года, а это всего 6 лет, сегодняшние 102 млн б/с могут превратиться в 110 млн б/с или даже 115 млн б/с», – отметил Александр Новак.
2024, June, 5, 06:30:00
OPEC+ RUSSIA: 2025
Extend the level of overall crude oil production for OPEC and non-OPEC Participating Countries in the DoC as per the attached table starting 1 January 2025 until 31 December 2025.
