Oil quotes recover after 4-day losses
16 ноября 2017
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Oil prices are stable on Thursday morning as the OPEC pact that was signed to limiting the oil output rate may be prolonged. The quotes had been showing an active decline for four sessions in a row because of the high level of oil production in the U.S. (далее…)

Oil quotes beat two-year record
6 ноября 2017
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On Monday, oil prices hit a two-year high as the number of drilling rigs in the U.S. moved to the minimum level since May 2017 and the confidence that OPEC will extend the current oil agreement grows. (далее…)

Positive inventories data supports oil quotes
19 октября 2017
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Oil prices are flat on Thursday, although the market remains supported by the weekly data on oil stocks reduction in the U.S. and possible extension of the OPEC pact. During the morning trade, Brent crude rose by 0.02% to $58.16 per barrel. Futures for the American WTI were at $52.01 per barrel – 0.06% lower than the previous close.

The Energy Information Administration (EIA) data indicated that the U.S. oil inventories declined by 5.73 million barrels to 456.49 million last week, while analysts predicted a 4.2 million barrel decrease. U.S. oil production fell by 11% to 8.4 million barrels per day, which was the lowest level since June 2014. Analysts think the production decline was caused by the tropical storm “Nate” that hit the Gulf of Mexico.

Another factor affecting quotes is positive data on China’s GDP growth. GDP grew in the third quarter by 1.7% on a quarterly basis and by 6.8% year-on-year. The volume of industrial production rose by 6.6% in September, although experts expected an increase by 6.2%. China is considered the world’s second-largest oil import country, and a sharp increase in demand from Chinese oil refineries in the third quarter may support prices.

Oil supply from the northern provinces of Iraq to the Turkish port of Ceyhan fell to 240,000 barrels on Wednesday, while the regular rate is about 600,000 barrels per day. The decline was caused by the fact that the government forces have taken control over the fields, while the pipelines are controlled by the Iraqi Kurdistan.

The oil market is also supported by the possible extension of the OPEC oil agreement till the end of 2018. The Organization of Petroleum Exporting Countries and some countries outside the cartel, agreed last year to cut the level of oil output to stabilize the oil market. The agreement expires in March 2018, and experts still doubt its effectiveness, so the chances for its extension are high.

On Nymex, gasoline futures rose by 0.5 cents to $1.655 a gallon, heating oil was traded at $1.803 a gallon. Natural gas futures moved to $2.877 per million British thermal units ahead of the weekly inventories data.

Oil recovers after last week drop
9 октября 2017
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Oil opened Monday higher after the fall at the end of last week caused by concerns about oversupply in the market. (далее…)

Oil stabilizes on possible output cuts by Russia and Saudi
5 октября 2017
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Oil prices stabilized on Thursday on expectations that Saudi Arabia and Russia will reduce oil output. Nevertheless, a record level of export from the U.S. and the resumption of supplies from the Libyan field both put pressure on the market. (далее…)

Oil moves lower after significant rise
21 сентября 2017
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Oil prices started declining on Thursday morning due to the growth of oil reserves in the U.S. By 7:00 GMT, Brent futures fell by 0.41% to $56.06 per barrel. WTI futures were traded at $50.50 a barrel – 0.37% lower. (далее…)

Oil moves down again after sharp rise
14 сентября 2017
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During the morning trade on Thursday, oil prices started lowering after a sharp growth yesterday. The quotes were up due to the positive data on inventories in the U.S. and the news from OPEC. (далее…)

Oil falls from 6-week highs touched earlier
20 июля 2017
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Oil prices were decreased during the European trading session on Thursday after they reached the highest level in six weeks a day before. (далее…)

Oil position tends to become stable
18 июля 2017
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The oil market stabilized on Tuesday, as demand level became firm. However, the United States producers and high supply levels of the OPEC still affect oil prices. (далее…)

Saudi Arabia to cut oil supply for August
12 июля 2017
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Saudi Arabia is going to decrease oil shipments in August to increase its summer domestic consumption, provide balance, and remain within OPEC cut deal terms. Saudi industry source also informed that the mentioned decrease could reach over 600,000 barrels per day. (далее…)