Thursday , August 18 2022

Until the oil dissolves in the previous session; the saiga anxieties remain


Wednesday's crude oil price rises to $ 2 barrels per barrel, while US government data dropped below the monthly levels after high demand for purified fuels, but problems with world oil rose.

The nebula nests are visible on Oxnard, California, on February 24, 2015 on the strawberry field. REUTERS / Lucy Nicholson

LCOc1 futures for Brent oil rose by 2.5 percent to $ 64.05 per barrel, up $ 1.55 per barrel. EST (1812 GMT). The futures for Clc (Futures) futures contract rose by $ 1.89 and rose 3.5% to $ 55.32 per barrel.

US crude oil reserves USOILC = Last week IFI totaled $ 4.9 million. The barrel has grown, reported the Department of Energy Information. Crude oil reserves have increased in the longest nine weeks since March 2017. [EIA/S]

At Cushing, WTI USOICC = ECI, Oklahoma, the delivery junction has reached 116,000 barrels, the first nine weeks of decline, the EIA reported.

Gasoline reserves USOILG = ECI dropped to 1.3 million barrels per barrel in December 2017, while US-based distillation reserves USOILD = ECI dropped by 77,000 barrels, reports EIA.

"The report has suffered considerable bearing due to the large stockpile of crude oil, but the wastes of refined products and a huge leap in the oil refinery can lead to the last misunderstanding," said John Kilworth. Capital Management in New York City again.

The overall market remained weak after reducing more than 6% of the previous session, and global funds have been worried about economic prospects.

The Brent brand has dropped by 25 percent in 2019 after a slowdown in demand and concerns over the supply of Saudi Arabia, Russia, and the United States, as well as a four-year high of $ 86.74 on Oct. 3.

The Organization of Petroleum Exporting Countries speaks about the reduction of production volumes in a few months after the increase in production.

OPEC, Russia and other OPEC non-OECD producers are planning to deliver 1 million barrels per day (bc) and 1.4 million barrels per day at a meeting on 6 December.

However, Saudi Arabia can take steps to support the price, experts have emphasized to keep them under American pressure. US President Donald Tramp praised Saudi Arabia for helping to reduce oil prices.

Riyadh might have felt the tendency of the United States to follow Tramp's promises after promising that Saudi Arabia is a "reliable partner", although Mohammed bin Salman, the Prince of Tanzania, could learn about the plan to kill journalist Jamal Hashogi.

US energy firms dropped three oil equipment a week on November 21, bringing total figures to 885, General Electric CoGE.N) Baker Hughes Energy Company announced on Friday.

"Oil prices will still remain unchanged on December 6, even when OPEC meets," says Tortoise Managing Director Brian Kessen. "There are different rhetoric and things to change in practice."

Additional report from Henning Gloystein; Editors Marguerita Choy and David Gregorio

Our standards:Thomson Reuters Trust Principle.
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