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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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    Fearing a wider shutdown ... Oil is going down

    Rocky
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    • Post n°1

    Fearing a wider shutdown ... Oil is going down Empty Fearing a wider shutdown ... Oil is going down

    Post by Rocky Fri Apr 30, 2021 9:26 am

    Fearing a wider shutdown ... Oil is going down

    •  Time: 04/30/2021 10:32:51
       
    •  Read: 2,522 times

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    {Economic: Al Furat News} Oil prices retreated, on Friday, after touching their highest levels in six weeks due to fears of broader lockdowns in India and Brazil to curb the COVID-19 pandemic, which offset rising expectations for summer fuel demand and economic recovery.
     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.]
    Brent crude was down 31 cents, or 0.5 percent, to $ 68.25 a barrel by 0630 GMT on the last trading day of the June contract. And West Texas Intermediate crude for June reached $ 64.59 a barrel, down 42 cents, or 0.7%.
    Prices were also under pressure after the growth of factory activity in China slowed and the forecast failed in April, although a private sector survey showed that factory activity in Japan expanded in April at the fastest pace since early 2018. 
    Energy Aspects analysts said in a note: "The recovery in demand after Covid-19 remains uneven, and the rise in Indian cases is a timely reminder that any rise to $ 70 is premature."
    They said that such a level is likely to be reached in the third quarter of this year, when demand improves materially and the disposal of inventory ends.
    The world's third-largest oil consumer is in a deep crisis, with hospitals and morgues crowded, with the number of COVID-19 cases topping 18 million on Thursday. Read more
    Eugene Lindel, chief analyst at GBC Energy, said the high numbers of infections and renewed restrictions on movement "have forced us to revise estimates of Indian demand for gasoline and gasoline" for 2021.
    Brent is on track to rise about 8% in April, while West Texas Intermediate crude may see gains of close to 10% for the month.
    This will be their fifth monthly gain in six months as global demand has almost returned to pre-pandemic levels on the back of fiscal stimulus and easing of virus closures in some countries, while production cuts from OPEC and its allies, including Russia, have eased crude oil. Oversupply.
    ANZ analysts said the rollout of the COVID-19 vaccine and the lifting of lockdowns in several cities in the United States and Britain are also restoring confidence in travel, raising demand for fuel.
    The upcoming May Day holiday in China will also increase the demand for fuel in the world's second largest oil consumer.
    Raghad Daham
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