Oil rises in price on optimism around coronavirus vaccine
15:39 23.07.2020 4375
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.
New technologies make work at gas stations more comfortable
Employees of the Gubadag Oil Enterprise of the Main Directorate of «Turkmennebitonumleri» for 11 months of this year have demonstrated effective results of their activities. After major reconstruction, a filling station No. 170 was put into operation, located in the eastern part of the Gubadag-Dashoguz highway.
Fitch has raised its forecast for oil prices for the coming years
The international rating agency Fitch Ratings has raised its forecasts for oil prices for the near future, follows from the December report of the Global Economic Outlook (GEO), Interfax reports.
New Agarguyi gas field commissioned
The list of gas storage rooms operated by the «Lebapgazchykarysh» management of the State Concern «Turkmengas» has been replenished with the new Agarguyi field. Recently, two wells were drilled here, from which valuable hydrocarbon products were obtained.
Oil is confidently rising in price, the price of Brent rose to $76.42 per barrel
Oil prices are rising on Thursday on new signals that the spread of the omicron COVID-19 strain will not have such serious consequences for the global economy as initially expected, Interfax reported.
The material and technical base of gas workers continues to be replenished with modern special equipment
On the eve of the 32nd anniversary of the independence of Turkmenistan, the 2nd base of the Logistics and Technical Supply Department of the State Concern “Turkmengas” located in Mary received a batch of new equipment purchased from the People’s Republic of China. Lifting drilling rigs for repairing gas wells were accepted by gas workers as a worthy gift from the head of state – the President on the occasion of the country’s major holiday.