Skip to main content

CURRENT CRUDE OIL NEWS UPDATE

For One Day Free Demo 
www.tradelinecommodity.com 
India's No.1 Mcx Tips Provider
Call Whatsapp @:8533828881 /8057046270

https://api.whatsapp.com/send?phone=918057046270 
UPDATE 5-Oil dips but set for longest run of weekly gains in years in tense market
* Prices up about 40 pct in 2019 on OPEC cuts, U.S. sanctions
* Russian oil quality concerns add to tight market
* Saudi Arabia expected to raise output to fill supply gap
* Oil prices to rise amid tight market, political tension -FGE (Updates prices)
SINGAPORE, April 26 - Oil prices dipped on Friday on expectations that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a hardening of sanctions on Tehran by the United States.Still, prices are on course for the longest run of weekly gains in years, as oil markets have tightened amid supply disruptions and rising geopolitical concerns, especially over the tensions between the United States and Iran.Brent crude futures  were at $74.16 per barrel at 0647 GMT, down 19 cents, or 0.3 percent, from their last close.U.S. West Texas Intermediate (WTI) crude futures were at $64.91 per barrel, down 30 cents, or 0.5 percent.
The dip followed Brent's rise above $75 per barrel for the first time this year on Thursday after Germany, Poland and Slovakia suspended imports of Russian oil via a major pipeline, citing poor quality. The move cut parts of Europe off from a major supply route. is on track for its eighth successive weekly gain, the longest weekly run since the first half of 2015. Brent is set a fifth weekly price gain, the longest stretch since April 2018.Oil has been driven up by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and U.S. sanctions on Venezuela and Iran. Crude futures are up around 40 percent so far this year.Given the concerns around supply tightening from Libya, Venezuela, and Iran, the short-term view on Brent is bullish," Fitch Solutions said in a note on Friday.Washington said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action. make up for the shortfall from Iran, the United States is pressuring OPEC's de-facto leader Saudi Arabia, as well as allied producers like Iraq and the United Arab Emirates, to end voluntary supply restraints. end of the U.S. waivers on Iran exports will be offset by higher core-OPEC and Russia and as a result we do not expect further price upside, even if volatility is likely to increase in coming months," U.S. bank Glodman Sachs said.
Jefferies bank said "a drop to 500,000 to 600,000 barrels per day (bpd) now seems realistic" for Iranian oil exports, adding that "at least China and potentially India and Turkey will continue to import Iranian crude"."OPEC will make up for the shortfall," the U.S. investment bank said.Despite U.S. efforts to drive Iranian oil exports down to zero, many analysts expect some oil to still seep out of the country."A total of 400,000 to 500,000 barrels per day of crude and condensate will continue to be exported," said energy consultancy FGE, down from around 1 million bpd currently.China, the world's biggest buyer of Iranian oil, this week formally complained to the United States over its unilateral Iran sanctions.
© Reuters.  UPDATE 5-Oil dips but set for longest run of weekly gains in years in tense market

Comments

Popular posts from this blog

LIVE PRICE BY DELTAMCX UPDATE WEDNESDAY OF JUNE 19/6/2019 (11:30)am Call Or Whatsapp At 7900407979/8218995523 www.deltamcx.com

LIVE PRICE BY DELTAMCX  UPDATE WEDNESDAY OF JUNE 19/6/2019 (11:30)am Call Or Whatsapp At 7900407979/ 8218995523 www.deltamcx.com Maximum Accuracy Best Returns https://api.whatsapp.com/send?phone=917900407979

LIVE CRUDE NEWS UPDATE BY DELTA RESEARCH

  Missed Call Or WhatsApp  Arushi Pathak 7900407979 www.deltamcx.com  Maximum Accuracy Best Returns Oil prices traded lower on Monday in Asia. Sino -U.S. trade war developments were in focus.U.S.  Crude Oil WTI Futures  fell 1.1% to $55.04 by 12:35 AM ET (04:35 GMT.). International  Brent Oil Futures  were down 1.2% to $61.16.Concerns that the U.S.-China trade war may further intensify eased somewhat after President Donald Trump reportedly said that proposed tariffs on China could be delayed or halted if Beijing “takes positive action.”During an interview with CNBC, Trump said that his administration could delay or halt the imposition of tariffs if China " takes positive action." The comments came on Friday, a day after Trump announced that the U.S. would impose new levies on $300 billion worth of Chinese goods, raising fresh fears about oil demand growth, sending oil prices tumbling 8% - their biggest one-day drop in more than four years.The t...

MID MONTH SPECIAL WITH ROYALTRADERS

RoyalTraders Call@9719026661 www.RoyalTraders.co Best Accuracy For Royal Traders Mid Month Special: Join Today Bullion+ Energy+Basemetal Pack @ Rs.10001 For 100 Days With 98% Royal Accuracy Monthly Guaranteed Profit Rs.1.5 -2Lacs Valid Till 2 PM Call-9719036174 www.RoyalTraders.co