Sure Mcx Tips, Free Gold Tips, 99% Sure Crude Oil Tips, Free Silver Tips, 100% Sure One Day Free Trial By www.expertcommodity.com

Oil prices rise on North Sea outage, ahead of OPEC, G20 meetings by www.expertcommodity.com
© Reuters. A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC countries in Vienna
Oil prices rose by one percent on Wednesday ahead of an OPEC meeting next week at which the producer club is expected to decide some form of supply cut to counter an emerging glut.
The shutdown of Britain's largest North Sea oilfield for repairs also supported prices, traders said.
U.S. West Texas Intermediate (WTI) crude futures were at $52.11 per barrel at 0448 GMT, up 55 cents, or 1.1 percent from their last settlement.
International Brent crude oil futures were up 57 cents, or 1 percent, at $60.78 per barrel.




The Buzzard oilfield, which pumps about 150,000 barrels per day (bpd) has closed temporarily after the discovery of pipe corrosion. A smaller field linked to Forties, Total's Elgin-Franklin, is also shut for maintenance. As a result, trade sources said three cargoes due to load in December had been canceled.
Despite Wednesday's rise, oil prices have still lost around 30 percent in value since early October, weighed down by an emerging supply overhang and by widespread weakness in financial markets.
The crude oil price slump since October is so far on par with the 2008 price crash and steeper than that of 2014/2015.

Comments

Post a Comment

Popular posts from this blog

Mcx live updates, Gold live price, Silver live price, Crude oil live price, Lead live price, Natural gas live price by www.expertcommodity.com

Image
Click Here:  www.expertcommodity.com Symbol Expiry LTP High Low Open Close Change GOLD 05FEB2019 31555.00 31582.00 31500.00 31500.00 31559.00 -4.00 SILVER 05MAR2019 38184.00 38322.00 38164.00 38274.00 38253.00 -69.00 CRUDEOIL 18JAN2019 3253.00 3274.00 3220.00 3220.00 3214.00 +39.00 COPPER 28FEB2019 422.10 423.15 420.80 422.00 421.05 +1.05 LEAD 31DEC2018 138.95 139.50 138.00 138.00 139.05 -0.10 ZINC 31DEC2018 179.10 179.85 178.70 179.00 178.75 +0.35 NICKEL 31DEC2018 750.50 752.50 748.70 750.00 749.80 +0.70 NATURALGAS 28JAN2019 239.80 244.60 238.40 240.10 241.70 -1.90 ALUMINIUM 31DEC2018 133.40 133.65 132.70 132.70 131.45 +1.95
Read more

U.S. government official says country to become key source of global energy supplies

Image
© Reuters. U.S. government official says country to become key source of global energy supplies www.expertcommodity.com call or whatsapp on-(9627214242) & (9759995554) The United States will become a key source of energy supplies to meet growing demand globally, with innovation in technology and financing set to boost U.S. oil and gas production in the next decade, the country's top energy diplomat said. "In the next 5-10 years, we expect to see improved recovery rates and even a doubling in some of our most prolific (gas) basins," said Frank Fannon, assistant secretary in the energy bureau of the U.S. state department. "What this means in the near-term is that the United States may double production, double export capacity and introduce new market innovation," he said at an industry conference in Singapore.
Read more

Oil Prices Gain Despite Surprise Rise in U.S. Crude Stockpiles

Image
  Oil prices rose on Thursday even after weekly data from the U.S. Energy Information Administration (EIA) unexpectedly showed a build in U.S. stockpiles. On the New York Mercantile Exchange,  Crude Oil WTI Futures  for November delivery traded 1.2% higher to $72.40 a barrel by 12:15AM ET (04:15 GMT), while on London's Intercontinental Exchange,  Brent Oil Futures  for December delivery gained 0.9% to trade at $81.52 a barrel. www.expertcommodity.com 9759717061 (Miss Ankita) 9759995554 (Mr. Sumit) The U.S. Energy Information Administration (EIA) said in its weekly report that domestic crude  oil inventories  rose by 1.852 million barrels during the week ended Sept. 21. Market analysts had expected a decline of 1.279 million barrels instead. The American Petroleum Institute, which collects data independently from the industry, reported on Tuesday an increase of 2.903 million barrels for the week in review. The EIA said that supplies at Cushing, Okl...
Read more