Buz Investors Oil pushes higher on worries The commodity is trading at $53.74 per barrel at 10:40 GMT this morning, 0.19% higher from the New York close. Crude oil witnessed a high of $54.05

Oil prices rise on Saudi export cuts to Asia, report of falling US stockpiles

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Oil prices rise on Saudi export cuts to Asia, report of falling US stockpiles

Buz Investors Oil pushes higher on worries The commodity is trading at $53.74 per barrel at 10:40 GMT this morning, 0.19% higher from the New York close. Crude oil witnessed a high of $54.05

Oil

BUZ INVESTORS  Saudi export cuts  The commodity is trading at $46.32 per barrel at 09:40 GMT this morning, 0.19% higher from the New York close. Crude oil witnessed a high of $46.46 per barrel and a low of $46.01 per barrel during the session. In the New York session yesterday, crude oil rose 0.06% to close at $46.23 per barrel, after the API disclosed that US crude oil inventories fell by 5.8 million barrels last week. Gains in crude prices were capped, after the EIA raised its US crude production forecast for 2017 and 2018. Immediate downside, the first support level is seen at $45.68 per barrel, while on the upside, the first resistance level is at $46.80 per barrel.




 

Saudi export cuts

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Crude oil  | Data | Chart | Calendar | Forecast | News


source: tradingeconomics.com
Crude Oil increased 0.71 USD/BBL or 1.55% to 46.68 on Wednesday May 10 from 45.88 in the previous trading session. Historically, Crude oil reached an all time high of 145.31 in July of 2008 and a record low of 1.17 in February of 1946

Crude oil is the world’s most actively traded commodity. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so. This page provides – Crude oil – actual values, historical data, forecast, chart, statistics, economic calendar and news. Crude oil – actual data, historical chart and calendar of releases – was last updated on May of 2017.

 

Actual Previous Highest Lowest Dates Unit Frequency
46.68 46.21 145.31 1.17 1946 – 2017 USD/BBL Daily

 

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BUZ INVESTORS Oil slips below $52 The commodity is trading at $49.12 per barrel at 09:40 GMT this morning, 0.14% lower from the New York close.

Oil rebounds as Saudi Arabia hints at supply cuts beyond 2017

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Oil rebounds as Saudi Arabia hints at supply cuts beyond 2017

Oil

BUZ INVESTORS   Saudi Arabia hints This morning at 09:40 GMT, the commodity is trading at $46.13 per barrel, 0.73% lower from the New York close. The commodity traded at a high of $46.98 per barrel and a low of $45.99 per barrel this morning. On Friday, crude oil traded 2.38% higher in the New York session and closed at $46.47 per barrel, after Saudi Arabia assured that Russia is ready to join OPEC in extending crude production cuts to reduce a global supply glut. Immediate downside, the first support level is seen at $45.01 per barrel, while on the upside, the first resistance level is at $47.11 per barrel.

Crude oil futures were sent on a roller-coaster ride Monday morning, trying to retake the $47 level after Saudi Arabia’s oil minister said a deal to cut production could be extended into 2018.

The election of Emmanuel Macron, a pro-free trade centrist, as France’s next president also helped to assuage concerns that the European economy may see further headwinds.

West Texas Intermediate crude CLM7, -0.02% traded 24 cents higher, or 0.5%, at $46.45 a barrel, while July Brent LCON7, -0.08% on London’s ICE Futures exchange climbed 28 cents, or 0.6%, to $49.38 a barrel.

 



Saudi Arabia hints

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Crude oil | Data | Chart | Calendar | Forecast | News


source: tradingeconomics.com
Crude Oil decreased 0.04 USD/BBL or 0.09% to 46.20 on Monday May 8 from 46.22 in the previous trading session. Historically, Crude oil reached an all time high of 145.31 in July of 2008 and a record low of 1.17 in February of 1946.

Crude oil is the world’s most actively traded commodity. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so. This page provides – Crude oil – actual values, historical data, forecast, chart, statistics, economic calendar and news. Crude oil – actual data, historical chart and calendar of releases – was last updated on May of 2017.

 

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BUZ INVESTORS Saudi Aramco State oil giant Saudi Aramco plans to launch its overhauled Muajjiz oil terminal on the Red Sea next year, lifting its total loading and export capacity to as much as 15

Saudi Aramco to boost oil loading capacity with reopened terminal

Saudi Aramco to boost oil loading capacity with reopened terminal

The logo of Saudi Aramco. Photo: Reuters

BUZ INVESTORS Saudi Aramco  State oil giant Saudi Aramco plans to launch its overhauled Muajjiz oil terminal on the Red Sea next year, lifting its total loading and export capacity to as much as 15 million barrels per day, Saudi officials said.

Located on the Red Sea, Muajjiz had been used as an export terminal for Iraqi crude through the Iraqi Pipeline in Saudi Arabia (IPSA), but it has not carried Iraqi crude since Saddam Hussein invaded Kuwait in 1990.

The pipeline was confiscated by Saudi Arabia in 2001 as compensation for debts owed by Baghdad.

 




Saudi Aramco

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Saudi Arabia had used the IPSA pipeline to transport gas to power plants in the west of the country for years before test opening it in 2012, giving Riyadh scope to export more of its crude should Iran try to block the Strait of Hormuz.

Saudi’s arch-rival has in the past threatened to block the Hormuz shipping channel, through which 40 per cent of the world’s seaborne oil exports pass, in retaliation for sanctions placed on its crude exports by Western powers in 2012.

Bringing Muajjiz terminal online next year would boost the kingdom’s total oil handling capacity to 15 million barrels per day (bpd) from 11.5 million bpd currently, Mohammed al-Qahtani, Aramco’s senior vice president for upstream, said in an interview at the company’s headquarters in Dhahran.

The additional capacity from Muajjiz, which will be integrated into the Yanbu crude oil terminal, will accommodate the increased volumes of fuel oil and supplies of Arabian heavy crude oil to the Yasref, Jazan and Jiddah local refineries.

The move will boost Aramco’s ability to meet its commitments to customers and maintain its export capability from the kingdom’s west coast.

“Restoring operations at al-Muajjiz will offer Saudi Aramco more flexibility in terms of its crude oil and product sales, and traffic configuration out of the Red Sea without affecting its intense operations out of the Arabian Gulf, which are largely dedicated to the Asian markets,” said Sadad al-Husseini, a former Aramco senior executive and now an energy consultant.

Saudi Arabia has three primary oil export terminals, including the port of Ras Tanura on the Gulf, with an average capacity of around 3.4 million bpd and which handles most of Saudi Arabia’s exports, according to the US Energy Information Administration (EIA).

The Ras al-Ju’aymah facility on the Gulf has an average handling capacity of about three million bpd and can accommodate the largest oil tankers for crude loadings.

The Yanbu terminal on the Red Sea, from which most of the remaining volumes are exported, has an average handling capacity of 1.3 million bpd.

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Oil prices edge up on OPEC hopes, but doubts linger

Oil rises on weaker dollar, Saudi commitment to cut output

Oil rises on weaker dollar, Saudi commitment to cut output

Oil

  • Buz Investors Oil rises on weaker dollar The commodity is trading at $53.22 per barrel at 10:40 GMT this morning, 1.1% higher from the New York close.
  • Crude oil witnessed a high of $53.34 per barrel and a low of $52.24 per barrel during the session. In the New York session yesterday, crude oil rose 0.77% to close at $52.64 per barrel, after Saudi Arabia Energy Minister, Khalid al-Falih stated that the country would adhere strictly to its output reduction commitment.
  • Immediate downside, the first support level is seen at $52.45 per barrel, while on the upside, the first resistance level is at $53.67 per barrel.

Oil rises on weaker dollar

Oil prices edge up on OPEC hopes, but doubts linger

Oil rises on weaker dollar  U.S. West Texas Intermediate (WTI) crude futures were up 78 cents at $53.15.

The dollar, along with stocks and bond yields, fell across the board on Tuesday after U.S. President-elect Donald Trump said that the strong greenback was hurting U.S. competitiveness.

Traders said that oil drew some support from top crude exporter Saudi Arabia, which said it would adhere strictly to its commitment to cut output under the agreement between OPEC and other producers, such as Russia.

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Oil rises on weaker dollar

Under the agreement, OPEC, Russia and other non-OPEC producers have pledged to cut oil output by nearly 1.8 million barrels per day (bpd), initially for six months, to bring supplies back in line with consumption.

“The market genuinely seems quite happy here (with oil around $55) … but people are watching with caution as the slightest hint of this OPEC/non-OPEC agreement going wrong is going to drive the market down,” said Matt Stanley, a fuel broker at Freight Investor Services (FIS) in Dubai.

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Oil prices rise as Saudi Arabia discusses supply cuts

Oil rises as Saudi tells Asian customers of output cuts

Oil rises as Saudi tells Asian customers of output cuts

Oil

  • Buz Investors Oil rises The commodity is trading at $51.27 per barrel at 10:40 GMT this morning, 0.96% higher from the New York close.
  • Crude oil witnessed a high of $51.33 per barrel and a low of $50.76 per barrel during the session. In the New York session yesterday, crude oil fell 2.57% to close at $50.78 per barrel, after the API disclosed that US crude oil stockpiles rose 1.5 million barrels last week.
  • Separately, Iraqi Oil Minister, confirmed that Iraq has trimmed its oil production by 160,000 barrels a day since the start of January to meet its compliance with OPEC’s decision.   Immediate downside, the first support level is seen at $50.53 per barrel, while on the upside, the first resistance level is at $52.19 per barrel.

Oil rises

Oil prices rise as Saudi Arabia discusses supply cuts

Oil rises Oil prices rose for the first time in three days on Wednesday, following news of Saudi supply cuts to Asia, but persistent doubt over output reductions and signs of rising shipments from other producers kept gains in check.

Brent crude futures were up 41 cents at $54.05 a barrel by 1133 GMT (6:33 a.m. ET), while U.S. West Texas Intermediate crude futures were up 39 cents at $51.21 a barrel.

 

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Oil rises 

Brent has surrendered nearly 40 percent of the gains made between late November and early January. Analysts, however, said the slide was unlikely to become more aggressive, given the likelihood of Saudi Arabia and its Gulf neighbors at least sticking to their pledge to cut output.

“Few envision that Brent crude at sub-$50 a barrel is a viable price (in the first half of 2017) amid OPEC production cuts tightening up the market,” SEB commodities strategist Bjarne Schieldrop said.

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Oil prices rise as Saudi Arabia discusses supply cuts

Oil prices rise as Saudi Arabia discusses supply cuts

Oil prices rise as Saudi Arabia discusses supply cuts

Oil

  • Buz Investors Oil prices rise The commodity is trading at $53.27 per barrel at 10:40 GMT this morning, 0.15% lower from the New York close.
  • Crude oil witnessed a high of $53.42 per barrel and a low of $53.04 per barrel during the session. In the New Yor k session yesterday, crude oil rose 1.46% to close at $53.35 per barrel, after the API disclosed that US crude oil inventories fell more than expected by 7.4 million barrels last week.
  • Immediate downside, the first support level is seen at $52.47 per barrel, while on the upside, the first resistance level is at $53.75 per barrel.

Oil prices rise

Oil prices rise as Saudi Arabia discusses supply cuts

Oil prices rise Oil prices rose on Thursday after Saudi Arabia commenced talks with customers approximately a reduction in crude income to support a plan by way of OPEC to lessen worldwide supply.

The organization of the Petroleum Exporting countries promised in November to reduce output to help prop up charges.

under the deal, Saudi Arabia agreed to reduce output with the aid of 486,000 barrels consistent with day (bpd), or four.sixty one percent

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Oil prices rise 

of its October output of 10.544 million bpd.
“Aramco is drawing close all its customers for viable cuts from February and discussing possibly (deliver) eventualities,” one source advised Reuters. “nothing is confirmed but,” the supply said, adding the situations have been for cuts of three-7 percent.

investors had been suspicious that OPEC won’t reduce as a good deal as promised, but numerous resources told Reuters on Thursday the arena’s largest oil exporter intended to lessen exports to conform with the OPEC cuts.

Benchmark Brent crude oil LCOc1 became up 45 cents a barrel at $fifty six.ninety one with the aid of 1225 GMT. U.S. mild crude oil CLc1 turned into up 40 cents a barrel at $fifty three.sixty six. both contracts rose by using around 2 percentage on Wednesday.

“There remains a query mark over whether OPEC, with an extended history of non-compliance, will surely comply with through (with the cuts). only a few respondents anticipate full compliance,” Singapore exchange (SGX) said on Thursday, citing outcomes from a survey of its individuals.

“three-quarters of those surveyed went for (crude) expenses averaging within the contemporary $50-$60 a barrel variety (for 2017),” SGX introduced.

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Oil prices rise on Saudi optimism Opec Mind Game

Oil prices rise on Saudi optimism Opec Mind Game

Oil prices rise on Saudi optimism Opec Mind Game

Oil

  • Buz Investors Oil prices rise The commodity is trading at $45.67 per barrel at 10:40 GMT this morning, 0.75% higher from the New York close.
  • Crude oil witnessed a high of $45.83 per barrel and a low of $45.28 per barrel during the session. In the New York session yesterday, crude oil fell 0.2% to close at $45.33 per barrel, after the EIA disclosed that US crude stockpiles rose more than anticipated by 5.3 million barrels to 490.3 million barrels last week.
  • However, losses in crude prices were trimmed after the Russian Energy Minister, Alexander Novak, stated that Russia will support the OPEC’s deal to curb production. Immediate downside, the first support level is seen at $45.00 per barrel, while on the upside, the first resistance level is at $46.38 per barrel.

Oil prices rise

Oil prices rise on Saudi optimism Opec Mind Game

Oil prices rise OPEC  Mind games attempt to Convince Investors they still have some kinda of control Oil prices rose on Thursday as expectations of an OPEC deal to limit production outweighed evidence of global oversupply and rising inventories, particularly in the United States.

Saudi Energy Minister Khalid al-Falih said he was optimistic OPEC would formalize a preliminary oil output deal reached in Algeria in September.

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Oil prices rise 

U.S. crude inventories rose by 5.3 million barrels in the week to Nov. 11, well above forecasts of an increase of 1.5 million barrels, data from the U.S. Energy Information Administration showed on Wednesday. Stocks are also rising elsewhere, thanks to record output by OPEC, which pumps around 40 per cent of world oil supply.

“The name of the game is ‘volatility’ as confusing signals are arriving before OPEC meets,” said Tamas Varga, senior analyst at London brokerage PVM Oil Associates.

“We have evidence of oversupply – U.S. stocks rising – versus hopes for some action by OPEC.”

Venezuelan President Nicolas Maduro said on Wednesday OPEC countries are ready to reach a “forceful” agreement on cutting oil output. Maduro met OPEC Secretary-General Mohammed Barkindo in Caracas to discuss a possible OPEC deal.

Russia has also expressed willingness to support an OPEC decision to freeze output, Russian Energy Minister Alexander Novak said.




Saudi Arabia Money Supply M3 decreased in August

Saudi Arabia Money Supply M3 decreased in August

Saudi Arabia Money Supply M3 decreased in August

  • Money Supply M3 in Saudi Arabia decreased to 1752329 SAR Million in August from 1753382 SAR Million in July of 2016.
  • Money Supply M3 in Saudi Arabia averaged 811477.41 SAR Million from 1997 until 2016, reaching an all time high of 1828169 SAR Million in September of 2015 and a record low of 260058 SAR Million in February of 1997.
  • Saudi Arabia Money Supply M3 includes M2 plus long-term time deposits in banks. This page provides – Saudi Arabia Money Supply M3 –

Saudi Arabia Money Supply M3

Saudi Arabia Money Supply M3 decreased in August

Money Supply M3 Prices continued to remain subdued through August due to concerns over rising levels of US and global petroleum products inventories coupled with a rebound in US oil rig counts.

Further BOE accommodation may be necessary in order to avoid a slowdown, especially that an exit will require two years after Article 50 is triggered by Theresa May’s government.

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Money Supply M3

Monetary policies have aided global commodities as continued Fed accommodation alongside the UK, Europe and Japan led to lower exchange rates against commodity currencies. The declining trend of the USD this year led dollar-denominated assets, including commodities, to appreciate.

As a proxy for consumer demand, the volume of point-of-sale transactions is in a clear deceleration as it upturned by 2.7% Y/Y, contrasting with last year’s average of 13.5%.

The much anticipated entry of Qualified Financial Investors has largely been burdened by the economic slowdown and stringent regulations for entry into the domestic market

oil prices losses were capped

oil prices losses were capped after Saudi Arabia and Russia reached an agreement

oil prices losses were capped after Saudi Arabia and Russia reached an agreement

Oil

  • oil prices losses The commodity oil is trading at $44.87 per barrel at 09:40 GMT this morning, 0.51% lower from the New York close.
  • Crude oil witnessed a high of $45.62 per barrel and a low of $44.72 per barrel during the session. In the New York session yesterday, crude oil fell 0.22% to close at $45.10 per barrel.
  • However, the losses in oil prices were capped after Saudi Arabia and Russia reached an agreement on crude production to stabilize the global oil market. Immediate downside, the first support level is seen at $44.23 per barrel, while on the upside, the first resistance level is at $46.01 per barrel.

 

oil prices losses were capped: Most OPEC members support $50-60 oil price

oil prices losses were capped

oil prices losses were capped  Iran’s oil minister says his country would support any decision by the oil producing group of nations that seeks to stabilize the oil market, Iranian state TV reported on Tuesday.

The remarks by the minister, Bijan Namdar Zangeneh, came after talks with OPEC chief Mohammad Sanusi Barkindo on Tuesday in Tehran.

 Other Stories you Might Like

According to Zangeneh, most OPEC members want to see the price of crude oil at 50 to 60 dollars per barrel.

“This price makes production of oil by OPEC members profitable, economical and useful, while preventing the rivals from raising their output,” he said,

Iran is trying to regain its share of the global petroleum market after the removal of Western sanctions following Iran’s nuclear deal with world powers. It has said it will participate in talks on a possible production freeze after it reaches an output of 4 million barrels per day by April 2017.

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