Oil continues to grow thanks to lower US reserves, Brent - $79.39 per barrel

20:48 31.12.2021 3678

https://oilgas.gov.tm/storage/posts/3659/original-161cd4f3c89978.jpeg

 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.

Other articles
161d5720e9a2e3.jpeg
Gurbanguly Berdimuhamedov set tasks for the development of the gas industry in Mary and Lebap regions

As part of a working trip to Mary and Lebap regions, President Gurbanguly Berdimuhamedov held a working meeting with the leaders of the oil and gas complex of Turkmenistan on Tuesday, the State News Agency of Turkmenistan reports.


161d3edc702c64.jpeg
President of Turkmenistan visited the world's largest gas field «Galkynysh»

On Monday, January 3, on the first working day of 2022, President Gurbanguly Berdimuhamedov made a working trip to Mary region. From Mary airport, the head of state flew by helicopter towards the super-giant Galkynysh gas field, which has colossal reserves of natural gas.


1654c78bdce92b.jpg
Turkmenistan will supply Iraq with 9 billion cubic meters of natural gas per year

On Wednesday in Ashgabat, representatives of the State Concern Türkmengaz met with the delegation of the Republic of Iraq led by the Minister of Electricity Ziad Ali Fadel.


1654c8c97d8128.jpg
The President of Turkmenistan arrived in Tashkent to participate in the ECO meeting

President of Turkmenistan Serdar Berdimuhamedov arrived in Tashkent on Thursday on a working visit to participate in the 16th meeting of the Economic Cooperation Organization (ECO), TDH reports today.


1654cd35d49212.jpg
Serdar Berdimuhamedov: Turkmenistan is ready to increase supplies of gas and electricity to the ECO countries

President of Turkmenistan Serdar Berdimuhamedov, speaking on Thursday at the 16th meeting of the Economic Cooperation Organization (ECO) in Tashkent, announced his readiness to increase gas and electricity supplies to the countries of the Organization, TDH reports.