Oil prices continue to rise, Brent is above $121 a barrel
14:03 08.06.2022 10645
Oil prices continue to rise on traders' expectations that the demand for energy resources on the world market will exceed their supply due to the start of the automobile season in Western countries, as well as the lifting of anti-COVID restrictions in China, Interfax reports.
«Morgan Stanley» analysts Martijn Raths and Amy Sergeant expect the oil market to face a 500,000 bpd deficit in the second half of this year. The «bullish» scenario of experts (playing on the increase in prices) provides for an increase in oil prices to $150 per barrel in the third quarter.
The cost of August futures for Brent oil on the London ICE Futures exchange by 8:20 Moscow time on Wednesday was $121.15 per barrel, which is $0.58 (0.48%) higher than the price at the close of the previous session. As a result of trading on Tuesday, these contracts rose by $1.06 (0.9%) to $120.57 per barrel.
The price of futures for WTI oil for July in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $120.11 per barrel, which is $0.7 (0.59%) higher than the final value of the previous session. The day before, the cost of these contracts increased by $0.91 (0.8%) to $119.41 per barrel, which is the highest since March 8.
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.
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.
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.
Turkmenistan started exporting gasoline A-98 of EURO-5 and EURO-6 standards
Turkmenistan has started exporting A-98 gasoline of EURO-5 and EURO-6 standards, the first batches were sold to entrepreneurs from the United Arab Emirates and Afghanistan.