Brent oil fell to $99.11 a barrel
22:35 12.08.2022 6986
Oil prices are falling during the trading session on Friday after a steady increase in the previous trading session, Interfax reports.
The cost of October futures for Brent on the London ICE Futures exchange by 8:08 am Moscow time on Friday was $99.11 per barrel, which is $0.49 (0.49%) lower than the closing price of the previous session. As a result of previous trading, these contracts rose in price by $2.2 (2.2%) to $99.6 per barrel.
The price of futures for WTI for September in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $93.81 per barrel, which is $0.53 (0.56%) less than the final value of the previous session. By the close of the market on Thursday, the value of these contracts rose by $2.41 (2.62%) to $94.34 per barrel.
Meanwhile, for the week, the price of Brent could show an increase of almost 5%, WTI – more than 5%, according to Trading Economics.
Meanwhile, OPEC, in its own monthly report, lowered its forecast for oil demand growth this year by 0.3 million barrels per day to 3.1 million bpd due to some regional changes. Thus, in 2022, according to the organization, oil consumption will be 100.03 million b/d, and not 100.3 million b/d, as previously expected. OPEC still believes that this forecast assumes «healthy» demand for the energy resource, the report says.
Pre-conference day of the TESC 2025 forum
On Thursday, June 5, the International Scientific and Practical Conference "Environmental Aspects of Implementation of Innovative Technologies in the Development of Hydrocarbon Deposits" (TESC) will open in Ashgabat. The forum is organized by the State Concerns "Turkmengas", "Turkmennebit", the State Corporation "Turkmengeology" together with the "Turkmen Energy Forum".
Preparations for the VI Caspian Summit discussed
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Gurbanguly Berdimuhamedov held a meeting on expanding Turkmen gas export routes
The issues of expanding export routes for the supply of Turkmen natural gas were discussed at a meeting held on Tuesday by President Gurbanguly Berdimuhamedov with the participation of Vice-Chairmen of the Cabinet of Ministers for the fuel and energy complex, economy and foreign policy, the State News Agency of Turkmenistan reports.
Preparations for the implementation of energy projects discussed at talks in Islamabad
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800 delegates from 20 countries of the world will take part in the scientific forum on environmental aspects of the development of the fuel and energy complex
The International Scientific and Practical Conference: «Energy Prospects, New Technologies for the Development of Hydrocarbon Deposits» in the Year «The Happy Youth with Arkadag Serdarly» will be held at the Yagshygeldi Kakayev International Oil and Gas University on June 15.