Oil at its lowest since early October and continues to fall in price, Brent - $ 80 per barrel

14:40 19.11.2021 3072

https://oilgas.gov.tm/storage/posts/3371/original-16195fc8fb16ac.jpeg

 Oil finished trading on Wednesday at the lowest level since early October and continues to fall in price.

 The market continues to react to news that the administration of US President Joe Biden is considering selling oil from the strategic reserve.  At the same time, during a virtual summit with Chinese President Xi Jinping, the possibility of a similar step by China was discussed, Interfax reports.

 The oil market was not supported even by the data on the reduction of oil reserves in the US last week, MarketWatch notes.

 January futures for Brent oil on the London stock exchange ICE Futures by 08:05 Moscow time fell in price by $ 0.28 (0.35%) – to $ 80 per barrel.  On Wednesday, their price fell by $ 2.15 (2.6%) and amounted to $ 80.28 per barrel at the close, which is the lowest level since October 7.

 Quotations of futures for the WTI grade for December in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning are reduced by $ 0.67 (0.86%) – to $ 77.69 per barrel.  As a result of the previous session, their price fell by $ 2.4 (3%), ending the day at $ 78.35 per barrel – at least since October 1.

 Oil reserves in the United States last week decreased by 2.1 million barrels – to 433 million barrels, the country's energy ministry said.  Gasoline reserves decreased by 707 thousand barrels, distillates – by 824 thousand barrels.

Other articles
161973c74e8531.jpeg
President of Turkmenistan and Minister of Economy of Azerbaijan discussed partnership in the spheres of energy and transport

Cooperation in the energy sector became one of the main topics of the meeting of President of Turkmenistan Gurbanguly Berdimuhamedov with Minister of Economy of Azerbaijan Mikail Chingiz oglu Jabbarov, held in Ashgabat on Thursday.


161974beb8ee6f.jpeg
The Foreign Ministers of Turkmenistan and the Republic of Korea discussed the agenda of the upcoming «Central Asia – Korea» Forum

Foreign Ministers of Turkmenistan and the Republic of Korea Rashid Meredov and Chon Ui-Yong discussed by telephone the agenda of the 14th Central Asia-Korea Cooperation Forum, which is scheduled to be held on November 30 this year, the website of the Foreign Ministry of Turkmenistan reports.


161974c7cf3d06.jpeg
Gurbanguly Berdimuhamedov spoke at the International Forum on Northern Economic Cooperation

President of Turkmenistan Gurbanguly Berdimuhamedov made an address by the digital system at the International Forum on Northern Economic Cooperation, which was held on Thursday in Seoul (Republic of Korea) in a hybrid format.


164e6fdae84031.jpg
Representatives of the Ministry of Foreign Affairs of Turkmenistan and Malaysia discussed the issues of cooperation in trade, energy and other areas

The Turkmen-Malaysian inter-MFA consultations were held online at the Ministry of Foreign Affairs of Turkmenistan on Wednesday. Diplomats discussed a wide range of issues of multilateral and bilateral cooperation in the political, diplomatic, trade, economic, energy and humanitarian fields, the Turkmen Foreign Ministry said in a statement.


1619cc0e67c810.jpeg
At the meeting of the Turkmen-Chinese intergovernmental committee, issues of implementation of projects in the fuel and energy sector were discussed

The 7th meeting of the Subcommittee on Energy Cooperation of the Turkmen-Chinese Intergovernmental Committee was held on November 19, 2021 in an online format.