• <strike id="q0iu2"></strike>
  • The Annual Shale Gas Technology & Equipment Event
    logo

    The 15thBeijing International Shale Gas Technology and Equipment Exhibition

    ufi

    BEIJING,CHINA

    March 26-28,2025

    LOCATION :Home> News > Industry News

    Oil rises as investors weigh Saudi action against demand concern

    Pubdate:2019-08-12 16:48 Source:liyanping Click:

    HOUSTON (Bloomberg) - Oil surged to start the U.S. session as investors weighed the latest steps from Saudi Arabia following a selloff earlier in the week.

    WTI rose as much as 4.1% in New York, but is still on track to lose about 2% this week. The deepening spat between Beijing and Washington and a surprise gain in U.S. stockpiles helped drive prices to a seven-month low on Wednesday. The International Energy Agency on Friday called the demand outlook “fragile.” Saudi Arabia responded to the rout with a plan to limit output and exports in September.

    "The market is digesting the details of the EIA report and the Saudi response to the price drop," said Ashley Petersen, lead oil market analyst at Stratas Advisors. "We’re seeing a re-balancing of the market after such a big loss earlier in the week."

    Market digests trade risks

    A large-volume bullish options trade was reported just after 9 a.m. in New York, for 25,500 contracts -- equivalent to 25.5 MMbbl. The buyer of the options would profit from a tighter supply and demand outlook for WTI at the end of the year, helping to push oil prices higher.

    Crude has fallen about 7% this month as growing fears that the trade spat will expand into a currency war overshadow the risk of supply disruptions in the Middle East. The IEA in its monthly report trimmed forecasts for oil-demand growth this year and next, and warned that it may lower the estimates further as the trade spat between the U.S. and China drags on.

    “The recent escalation of U.S. trade measures against China has fueled risk aversion in global markets, and oil has not been immune to the turmoil -- despite supportive supply-side fundamentals,” said Harry Tchilinguirian, head of commodity-markets strategy at BNP Paribas SA.

    WTI for September delivery advanced $1.78 to $54.32/bbl on the New York Mercantile Exchange at 10:03 a.m. The contract rose $1.45 on Thursday, snapping three days of losses.

    Brent for October settlement rose $1.52 cents to $58.90/bbl on the ICE Futures Europe Exchange. The global benchmark crude traded at a $4.57 premium to West Texas Intermediate for the same month.

    Saudi Arabia, the top producer in the Organization of Petroleum Exporting Countries, plans to keep oil exports below 7 million barrels a day next month as it allocates less crude than customers demand, according to officials from the kingdom. State-run Saudi Aramco will provide customers across all regions with 700,000 bpd less than they requested, the officials said, asking not to be identified because the information isn’t public.

    Amid oil’s slide, United Arab Emirates Energy Minister Suhail Al-Mazrouei insisted market fundamentals are good and prices are undergoing a “temporary overreaction” driven by speculation. “I am confident that OPEC+ will continue” its strong compliance with agreed production levels, he said on Twitter.

    精品91自产拍在线| 最新69堂国产成人精品视频| 亚洲精品日韩专区silk| 99re6在线视频精品免费| 久久精品日韩一区国产二区| 精品国产国产综合精品| 99久久人妻无码精品系列| 国产69精品久久久久99尤物| 国内精品伊人久久久影院| 99精品久久精品| 精品福利一区3d动漫| fulidown国产精品合集| 亚洲精品成人网久久久久久| 日韩精品一区二区午夜成人版| 一区二区三区精品| 日韩在线观看一区二区三区| 亚洲欧洲精品在线| 九九热这里只有国产精品| 久久精品日韩一区国产二区 | 日韩乱码人妻无码系列中文字幕| 久久香蕉国产线看观看精品yw | 国产最新进精品视频| 日韩十八禁一区二区久久| 成人精品视频一区二区三区尤物| 国产精品va无码一区二区| 日韩国产免费一区二区三区| 精品国内在视频线2019| 无码人妻精品一区二区三区东京热| 日韩在线一区二区三区视频| 国产福利一区二区精品秒拍| 亚洲国产高清在线精品一区| 久久一区二区精品| 亚洲精品乱码久久久久久蜜桃 | 国产精品日韩AV在线播放| 日韩AV无码不卡网站| 国产成人精品免费视频网页大全| 国内精品视频在线观看| 精品午夜福利1000在线观看| 国产精品一香蕉国产线看观看| 国产精品福利久久香蕉中文 | 精品一区精品二区制服|