Oil rises in price on optimism around coronavirus vaccine
15:39 23.07.2020 5329
Benchmark oil prices rose moderately on Tuesday amid news of positive results from coronavirus vaccine tests, Interfax reported.
The cost of September futures for Brent oil on the London stock exchange ICE Futures by 8:14 Moscow time was $43.40 per barrel, which is $0.12 (0.28%) higher than the price at the close of the previous session. These contracts gained $0.14 (0.3%) on Monday.
By this time, futures for WTI crude oil for August at the electronic trading of the New York Mercantile Exchange (NYMEX) rose in price by 0.03 (0.07%) - to $40.84 per barrel. By the close of previous trades, the value of these contracts increased by $0.22 (0.5%).
The August WTI contract expires at the close of trading on Tuesday. The price of September WTI futures on Tuesday morning increases by $0.05 (0.12%) and is $40.97 per barrel.
According to a publication in the journal Lancet, the coronavirus vaccine being developed by the University of Oxford and AstraZeneca, according to preliminary data, helped to develop an immune response to the virus in subjects.
At the same time, the scientific publication clarifies that now vaccine trials should be carried out with the participation of those who are at risk for coronavirus - health care workers and the elderly with concomitant diseases.
While the first test results for the vaccine are undoubtedly "good news, scientists say it is too early to say for sure whether it is sufficient to protect it", - Think Markets analyst Fawad Razakzada, quoted by MarketWatch, said.
He also stressed that "in the past few weeks, oil prices have been extremely calm, which may indicate the likelihood of a sharp movement in the near future".
Meanwhile, the leaders of the European Union countries, after four days of negotiations, have reached an agreement on a plan to restore the economy hit by the coronavirus pandemic and the EU budget for 2021-2027, European Council President Charles Michel announced on Tuesday.
Intellectual competitions among oil workers
A chess competition was held at the technical assistance and social services center of the «Burnebitgazhyzmat» department of the State Concern «Turkmennebit», organized by the Balkanabat City Council of the Youth Organization of Turkmenistan named after Makhtumkuli together with the branch of the State Concern «Turkmennebit».
GaffneyCline plans to expand cooperation with Turkmenistan in the fuel and energy sector
The British consulting company GaffneyCline is considering the possibility of expanding further work in the oil and gas sector of Turkmenistan. This was reported by Trend with reference to the company's project director Drew Powell.
President of Turkmenistan discusses development of bilateral partnership with Malaysian Foreign Minister
President of Turkmenistan Serdar Berdimuhamedov received Malaysian Foreign Minister Dato Seri Utama Haji Mohamad bin Haji Hassan on September 10, TDH reports.
International conference «Oil and Gas of Turkmenistan – 2021» started in Ashgabat
Today in the afternoon in the building of the Chamber of Commerce and Industry of Turkmenistan the XXVI International Conference «Oil and Gas of Turkmenistan -2021», dedicated to the 30th anniversary of the independence of Turkmenistan, began work. The organizers of this prestigious forum are the State Concerns «Turkmengas» and «Turkmennebit», as well as the State Corporation «Turkmengeology» in partnership with the ES «Turkmen Forum» with the support of the British company GaffneyCline.
President of Turkmenistan calls on foreign companies to participate in major projects in leading sectors of the economy
President of Turkmenistan Serdar Berdimuhamedov called on foreign companies to participate in projects in the oil and gas, chemical, energy, transport and communications, and agricultural sectors. The head of state made this address via a digital system at the Investment Forum of Turkmenistan, which is being held in Ashgabat on September 10-11.