Oil continues to grow thanks to lower US reserves, Brent - $79.39 per barrel
15:48 31.12.2021 6095
Oil quotes continued moderate gains on Thursday morning, thanks to data on a larger-than-expected reduction in US oil inventories last week.
As reported by Interfax, the cost of February futures for Brent on the London ICE Futures exchange by 8:12 Moscow time was $79.39 per barrel, which is $0.16 (0.2%) higher than the price at the close of the previous session. As a result of trading on Wednesday, these contracts increased in price by $0.29 (0.4%) – up to $79.23 per barrel.
The price of WTI crude oil futures for February in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $76.74 per barrel, having risen by $0.18 (0.24%) compared to the final value of the previous session. By the close of trading the day before, the value of these contracts increased by $0.58 (0.8%) and amounted to $76.56 per barrel.
During the trading session the day before, the oil price reached its maximum values since the end of November. And since the beginning of the year, both brands have risen in price by more than 50%, which has not been seen in over a decade, Trading Economics reports.
As it became known the day before, commercial oil reserves in the United States decreased by 3.58 million barrels last week, while experts interviewed by Bloomberg were expecting a reduction of 2.7 million barrels. Inventories of gasoline decreased by 1.46 million barrels, distillates – decreased by 1.73 million barrels.
In addition, investors are increasingly betting that governments will not introduce new travel restrictions amid new evidence that the omicron coronavirus strain is less dangerous than previous options.
Market attention is now shifting to the OPEC+ meeting on January 4. At this meeting, representatives of oil-producing states will discuss plans to increase production by the planned 400 thousand barrels per day in February.
The work of the Interdepartmental Commission on the Caspian Sea was discussed at the Ministry of Foreign Affairs of Turkmenistan
The 63rd meeting of the Interdepartmental Commission of Turkmenistan on the Caspian Sea was held at the Ministry of Foreign Affairs on February 23. The meeting was attended by the relevant Vice-Chairmen of the Cabinet of Ministers of the country, the Director of the Caspian Sea Institute, heads of a number of ministries and specialized departments.
Products of oil refineries were sold at the auction
Last week, 35 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan.
The President of Turkmenistan and the Vice President of the UAE noted the active dynamics of cooperation in the energy, oil and gas and other spheres
The development of bilateral cooperation was discussed at a meeting on February 21 between the President of Turkmenistan Serdar Berdimuhamedov and the Vice President, Deputy Prime Minister, Minister of the Presidential Administration of the United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, who arrived in our country on a visit, TDH reports.
Dynamic development of national investments is carried out at the fields of Turkmenistan
Vice-Chairman of the Cabinet of Ministers Shakhym Abdrakhmanov, during an extended meeting of the government last Friday, reported on the work carried out by the oil and gas complex to increase oil and natural gas production, as well as the timely development of national investments in the coming years.
Liquefied gas and jet fuel were sold abroad at the auctions, and polypropylene and base oil were sold to the domestic market
27 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.