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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    High oil prices

    Rocky
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    • Post n°1

    High oil prices Empty High oil prices

    Post by Rocky Fri 28 May 2021, 7:01 am

    High oil prices

    •  Time: 05/28/2021 10:17:57
       
    •  Read: 2,951 times

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    {Economic: Al Furat News} Oil prices rose on Friday, raising Brent to nearly $ 70 a barrel, as the market was supported by strong US economic data and expectations of a strong recovery in global fuel demand in the third quarter.
     Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. [You must be registered and logged in to see this link.]
    July Brent crude futures rose 32 cents, 0.5 percent, to $ 69.78 a barrel by 0610 GMT, while U.S. West Texas Intermediate crude for July was at $ 67.18 a barrel, up 33 cents, or 0.5 percent.
    "Oil is trending higher on the back of strong US economic data and growing sentiment that if the Iran nuclear deal is revived, it will not include an immediate lifting of sanctions and that the oil market will not be overwhelmed by excess supplies quickly," said Edward Moya, an analyst at OANDA. 
    Brent and West Texas Intermediate are on track to achieve weekly gains ranging between 5% and 6% as analysts expect global oil demand to rebound to nearly 100 million barrels per day in the third quarter during summer travel in Europe and the United States after the spread of the new Corona virus. . Vaccination programs.
    “Demand for gasoline has exceeded 2019 levels in many areas,” ANZ analysts said in a note, adding that this may be partially offset by weakness in Asia that is experiencing the wave of COVID-19.
    The strong economic data from the United States, the world's largest economy and consumer of oil, also boosted risk appetite. The number of Americans filing new claims for unemployment benefits fell to the lowest level since mid-March 2020, beating estimates. 
    Balancing expectations of a recovery in demand against a possible increase in Iranian supplies, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC +, will likely stick to the current pace of a gradual easing of oil supplies at a meeting. OPEC sources said on Tuesday. 
    Iran and world powers have negotiated in Vienna since April to find steps that Tehran and Washington should take on sanctions and nuclear activities to return to full compliance with Iran's 2015 nuclear deal with world powers. 
    Analysts expect Iran to add between 500,000 bpd to 1.5 million bpd of crude and condensates to the market once the sanctions are lifted. 
    Raghad Daham


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