The price of Brent rose above $100 per barrel again
09:14 27.08.2022 10195
Oil prices are rising moderately on Friday morning after falling the day before, foreign media reported.
According to Interfax, the cost of October futures for Brent on the London ICE Futures exchange by 8:03 Moscow time on Friday amounted to $100.12 per barrel, which is $0.78 (0.79%) higher than the closing price of the previous session. As a result of trading on Thursday, these contracts fell by $1.88 (1.9%) to $99.34 per barrel.
The price of futures for WTI for October in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $93.28 per barrel, which is $0.76 (0.82%) more than the final value of the previous session. By the close of trading the day before, the cost of WTI fell by $2.37 (2.5%) to $92.52 per barrel.
«Oil traders are focusing on just two things,» Naeem Aslan, senior market analyst at AvaTrade, said. «It's the possibility of a nuclear deal on Iran that would bring Iranian oil back to the market, and more importantly, OPEC production».
«There are a lot of rumors in the market that a deal with Iran is very likely, as the country appears to have abandoned some important demands», he added.
Meanwhile, Saudi Arabia, OPEC's largest oil producer, has begun talking about the cartel's production cuts, the expert said. «This allows to calm the main fear of traders that the return of Iranian oil to the market will destabilize the balance of supply and demand», Aslan said.
The next OPEC+ meeting will take place on September 5.
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.