Oil prices pull back as trade tensions weigh on market

North Dakota production has increased significantly in the last two months. They were up 67,000 bpd in April and up another 25,000 bpd in May

North Dakota production has increased significantly in the last two months. They were up 67,000 bpd in April and up another 25,000 bpd in May

At the Multi Commodity Exchange, crude palm oil for this month rose by Rs 1.60 or 0.27 per cent to Rs 590.50 per 10 kg in a business turnover of 212 lots.

The West Texas Intermediate (WTI) for September delivery lost 1.10 USA dollars to settle at 67.66 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery erased 1.82 dollars to close at 72.39 dollars a barrel on the London ICE Futures Exchange.

Prices had tumbled to a six-week.

The world's biggest energy exporter raised production last month to 11.215 million barrels a day, a jump of 148,000 barrels from a month earlier and just below the post-Soviet record set in October 2016, according to government data emailed Thursday.

According to a Reuters poll earlier this week, 44 economists and analysts expect the USA sanctions to take between 500,000 bpd and 1 million bpd of Iranian crude oil off the market.

The Organisation of Petroleum Exporting Countries has said that crude oil production has gone up in July as Saudi Arabia pumped more volumes into the global market.

Price differentials for the medium-sour Mars grade to Dubai quotes on arrival in North Asia have fallen to 50 cents to $1 a barrel, down from indications of $1-$1.50 at the start of July, partly as China avoided USA crude due to potential import tariffs. "Yet, we remain much more concerned about the ongoing USA sanctions on Iran", analysts at Bank of America Merrill Lynch said in a research note published last week.

Lula lanza desde la cárcel su candidatura a presidente
La condena Lula purga desde el 7 de abril una condena a 12 años y un mes de cárcel por corrupción pasiva y lavado de dinero . Por el momento, Lula no escogió el nombre de su eventual vicepresidente, lo cual da pie a todo tipo de especulaciones.

Gasoline futures fell 1.7 percent to settle at $2.0451 a gallon.

China has said it plans to impose tariffs on liquefied natural gas, raising concerns that it could also impose tariffs on oil, Kilduff said.

The U.S. Energy Information Administration (EIA) on Wednesday reported a large build in crude oil inventories and a production decline in the week ending July 27.

Futures fell for the third day in NY, losing as much as 1.1 per cent to hit their lowest level since June 22, but US government's data showed a surprise gain in nationwide stockpiles on Wednesday.

His comments indicate that Russian Federation was producing above the level announced by Moscow after the OPEC+ meeting in June. The country has been pumping more following "joint efforts of OPEC and non-OPEC countries aimed at stabilizing the oil market", he said. Under constant pressure from US President Donald J. Trump to cool prices, Opec and its allies are fulfilling a pledge made in June to increase output to ease concerns over potential supply disruptions in countries such as Iran and Venezuela.

The net imports averaged 6.44 million barrels per day last week, up by 1.35 million barrels per day from the previous week.

Noticias recomendadas

Nos complace brindar esta oportunidad para compartir información, experiencias y observaciones sobre lo que está en las noticias.
Algunos de los comentarios se pueden reimprimir en otras partes del sitio o en el periódico.
Gracias por tomarse el tiempo para ofrecer sus pensamientos.