Listado de la etiqueta: brent
Oil stays low ahead of Opec meet
Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak prices overshadowed chances that Opec will reach a deal to cut output.
Donald Trump’s surprise win in last week’s US presidential election boosted the dollar and stocks but undermined oil. Crude has also fallen because of waning expectations that the world’s largest exporters will agree to reduce production this month.
Brent crude futures fell 50 cents on the day to $44.25 a barrel by 2:50pm GMT, while NYMEX crude futures dropped by 57 cents to $42.84 a barrel.
«In the same way that a strong Opec agreement was needed to continue the rally above $55, a lack of agreement will be needed to break below $40 and right now, we’re at $45,» Petromatrix strategist Olivier Jakob said.
Opec plans to cut or freeze output, but analysts doubt the group’s ability to reach an agreement at its meeting on 30 November.
Opec said on Friday its output hit a record 33.64 million barrels per day in October, and forecast an even larger global surplus in 2017 than the International Energy Agency (IEA) on Thursday.
Yet, Saudi Energy Minister Khalid al-Falih has said it was imperative for Opec to reach a consensus on activating a deal made in September in Algiers to cut production.
«Opec know what needs to be done but too few members will agree to take the production pain for the price gain, knowing also that the price gain incentivises non-Opec to produce more, lengthening the rebalancing process,» PVM Oil Associates analyst David Hufton said.
The dollar index hit an 11-month peak on Monday, driven by an aggressive sell-off in bonds that has pushed Treasury yields to their highest since January.
Ordinarily, a strong dollar would push oil lower, but the correlation between the two is at its most positive in two months, suggesting they are more likely to move in lockstep with one another than in opposite directions.
Data from the InterContinental Exchange on Monday showed investors delivered the largest weekly cut on record to their bets on a sustained rise in the price of oil.
Copyright: Up Stream
El barril de petróleo tipo Brent se cotiza en 56.25 dólares, al inicio de la sesión
El barril de petróleo tipo Brent del Mar del Norte para entregas en abril se cotizaba en 56.25 dólares al inicio de la sesión de hoy (08:00 GMT) en el mercado electrónico Intercontinental Petroleum Exchange (ICE).
El Brent perdía 37 centavos de dólar (0.65 por ciento) respecto al cierre previo, de 56.62 dólares por barril. En tanto, el crudo estadounidense West Texas Intermediate (WTI) para entregas en marzo, también a las 08:00 GMT, caía 40 centavos de dólar (0.74 por ciento) y se cotizaba en 53.46 dólares por barril.
Por su parte, la canasta de la Organización de Países Exportadores de Petróleo (OPEP) se cotizó el viernes en 53.23 dólares, lo que representó una ganancia de 47 centavos de dólar (0.89 por ciento) respecto al cierre previo, informó el cártel.
Copyright: El Sol de México
Precio de petróleo a la baja pese a posibilidad de mantener recorte
Los precios del barril de petróleo mantenían este lunes su tendencia a la baja, a pesar del acuerdo de varios miembros de la Organización de Países Exportadores de Petróleo (OPEP), de recomendar al cartel que extienda su acuerdo de recorte de la produción.
La tendencia de este lunes cumplía tres semanas consecutivas, sin que se disipe el temor de que el recorte de producción aplicado por el cartel de productores desde principios de año sea insuficiente para reducir el exceso de oferta en el mercado.
La OPEP y 11 productores fuera del organismo que pactaron la reducción de la producción de crudo, entre ellos Rusia, siguen respaldando el cumplimiento de ese acuerdo, que prevé retirar 1.8 millones de barriles diarios del mercado durante los seis primeros meses del año.
Este fin de semana Algeria, Angola, Irak, Kuwait y Venezuela acordaron recomendar a la OPEP en su reunión del próximo 25 de mayo, mantener el recorte seis meses más, bajo el argumento de que las existencias de crudo se encuentran altas, indicó un reporte del sitio especialñizado Bloomberg.
En tanto, las reservas de petróleo en Estados Unidos, el mayor consumidor de crudo del planeta, se encuentran en un nivel récord para esta época del año.
El barril de petróleo tipo Brent del Mar del Norte para entregas en mayo se cotizaba en 50.65 dólares al inicio de la sesión de hoy (08:00 GMT) en el mercado electrónico Intercontinental Petroleum Exchange (ICE).
El Brent perdía 15 centavos de dólar (0.30 por ciento) respecto al cierre previo, de 50.80 dólares por barril.
En tanto, el crudo estadunidense West Texas Intermediate (WTI) para entregas en mayo, también a las 08:00 GMT, caía 31 centavos de dólar (0.65 por ciento) y se cotizaba en 47.66 dólares por barril.
Por su parte, la canasta de la OPEP se cotizó el viernes en 48.26 dólares, pérdida de nueve centavos de dólar (0.19 por ciento) respecto al cierre previo, informó el cártel.
Notimex
2017-03-27 04:53:07
Precios del barril de petróleo cotizan a la baja
«Los precios del crudo en los mercados energéticos iniciaron la semana a la baja, pero siguen por encima de la barrera de los 50 dólares, en una jornada de escasos movimientos por el feriado de Pascua en Europa.
El barril de petróleo tipo Brent del Mar del Norte para entregas en junio se cotizaba en 55.51 dólares al inicio de la sesión de hoy (08:00 GMT) en el mercado electrónico Intercontinental Petroleum Exchange (ICE).
El Brent perdía 38 centavos de dólar (0.68 por ciento) respecto al cierre previo, de 55.89 dólares por barril.
En tanto, el crudo estadunidense West Texas Intermediate (WTI) para entregas en mayo, también a las 08:00 GMT, caía 38 centavos de dólar (0.71 por ciento) y se cotizaba en 52.80 dólares por barril.»
NTX/I/GBM/JEH / Notimex
2017-04-17 05:01:37
OPEC May Need to Extend Production Cuts to End of Next Year
By Anthony Dipaola
“OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018, a veteran market analyst said.
The reaction of global crude inventories to the cuts will determine how long the Organization of Petroleum Exporting Countries and allied producers stick with their policy of pumping less oil to counter a global glut, said Fereidun Fesharaki, the head of industry consultant FGE. Oil may drop to as low as $40 a barrel if U.S. stockpiles increase, he said Monday at the Middle East Petroleum and Gas Conference in Dubai.
“The probability that OPEC will agree to extend its cuts is at 100 percent,” said Fesharaki, a former adviser in the late 1970’s to the Iranian Prime Minister. “And the cuts will have to be extended even beyond this year, to the middle or even to the end of next year.”
OPEC and 11 other producers including Russia agreed in December to pare production by 1.8 million barrels a day during the first half of this year. They’re seeking to eliminate an oversupply that depressed prices to less than half of their 2014 high, when benchmark Brent crude sold at $115 a barrel. Brent jumped 52 percent last year for the first annual gain after three consecutive decreases and was trading at $51.65 a barrel, down 40 cents, at 5:18 p.m. in Dubai.
The oil market needs more time to start using up stored inventories, which are on the verge of declining, Harold Hamm, chief executive officer of Oklahoma-based Continental Resources Inc., said at the same conference. U.S. oil output is poised to expand this year by at least 400,000 barrels a day, most of it from the Permian Basin, to a level of about 9.4 million barrels a day, he said.
OPEC plans to decide on May 25 at a meeting in Vienna whether to extend its production limits. There’s a consensus that the group will extend the cuts into the second half, Saudi Arabian Minister of Energy and Industry Khalid Al-Falih said last week.”
1 de mayo de 2017 6:33 GMT-5
Bloomberg
Oil Rises From One-Month Low Before U.S. Crude Inventory Data
by Grant Smith
“Oil rose from its lowest close in a month amid estimates that U.S. crude inventories continue to shrink, although refined products are growing more plentiful.
Futures gained as much as 0.9 percent in New York after dropping 1 percent Monday. U.S. crude stockpiles are forecast to have decreased for a fourth week from a record last month, according to a Bloomberg survey before a report from the Energy Information Administration on Wednesday. Meanwhile, U.S. gasoline and distillate inventories probably climbed last week. The industry-funded American Petroleum Institute will release its supply data on Tuesday.
Oil has fallen the past two weeks on concerns increasing U.S. crude production will offset efforts by the Organization of Petroleum Exporting Countries and its allies to eliminate a global supply glut. While Fereidun Fesharaki, the head of industry consultant FGE, says OPEC is certain to extend output cuts when its ministers meet later in May, industry data showed American rigs targeting crude climbed to the highest level in two years.
“Everyone is waiting for the oil-inventory drawdowns materializing as a result of the OPEC and non-OPEC cuts,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich.
West Texas Intermediate for June delivery increased 38 cents to $49.22 a barrel on the New York Mercantile Exchange at 12:15 p.m. London time. Futures fell 49 cents to $48.84 on Monday, the lowest settlement since March 28. Total volume traded was about 16 percent above the 100-day average.
U.S. Fuels
Brent for July settlement rose 54 cents to $52.06 a barrel on the London-based ICE Futures Europe exchange. The contract dropped 53 cents to settle at $51.52 a barrel on Monday. The global benchmark crude traded at a $2.52 premium to July WTI.
Supplies of gasoline probably rose 1 million barrels to 242 million and inventories of distillate fuel, a category that includes diesel and heating oil, surged 1.5 million barrels to 152.4 million last week, according to a Bloomberg survey of eight analysts. Nationwide crude stockpiles are forecast to have dropped by 3.25 million to 525.5 million barrels in the week ended April 28.»
1 de mayo de 2017 19:15 GMT-5
Bloomberg
