by Thanvir | Jan 14, 2021 | Benchmark Oil Price
Brent Crude To Average $50 in 2021 Brent crude, the world’s largest oil price benchmark, is likely to hit an average of nearly $ 50 a barrel this year as countries face the logistical challenge of deploying the vaccines necessary to quell the COVID-19 pandemic....
by Thanvir | Jan 13, 2021 | Benchmark Oil Price
“Saudi Arabia in particular is ensuring through its additional voluntary production cuts that the market is undersupplied if anything” Eugen Weinberg, Commerzbank “We advise investors with a high risk tolerance to be long Brent or to sell its...
by Thanvir | Oct 6, 2020 | crude oil bids offers
LONDON, Oct 6 (Reuters) – North Sea Forties crude ticked up on a higher bid from Alta, while Ekofisk fell as BP and Vitol offered to sell for less. LIVE CRUDE OIL BIDS OFFERS * Indications are on a fob basis unless marked as cif. * Forties: Alta bid at dated...
by Thanvir | Jun 4, 2020 | Benchmark Oil Price, Uncategorized
BP has started evacuating workers from three platforms in the Gulf of Mexico and shutting down production as tropical storm Cristobal approaches the area before landing in Louisiana this weekend. Reuters reports that the platforms that are being evacuated are Thunder...
by Thanvir | May 21, 2020 | Benchmark Oil Price, Oil Price Reporting Agency
The physical crude oil markets signal a rapid shift from a huge oversupply at the peak of the coronavirus locks in April to an expected under-supply in the second half of the year. Brent’s six-week calendar spread shrank to less than 70 cents a barrel from more than $...
by Thanvir | Apr 22, 2020 | Benchmark Oil Price, Oil Price Reporting Agency
Brent futures for June delivery fell 15% to trade near $ 16 a barrel, while New York’s West Texas Intermediate fell 5% after losing nearly half its value on Tuesday. Prices continue to plummet as fears that the massive flooding that brought WTI to minus $ 40.32 a...
by Thanvir | Mar 28, 2020 | Benchmark Oil Price
The largest oil producer in Africa, Nigeria, caught up in the Saudi-Russian oil price war, has reduced its crude oil considerably and tried to pump as much as possible to keep customers in the unprecedented decline in demand. However, the price to be paid in the oil...
by Thanvir | Mar 21, 2020 | Benchmark Oil Price
Canada Prepares Multi-Billion Bailout for Oil Industry The Canadian federal government is preparing a billion dollar financial aid package for the oil and gas industry and could announce it next week, reports Globe and Mail, citing unnamed sources. Actions discussed...
by Thanvir | Mar 10, 2020 | Benchmark Oil Price, Oil Price Reporting Agency
Royal Dutch Shell and BP lose more than £32bn from their combined market value The oil price war in Saudi Arabia wiped billions of pounds off the market value of the largest companies in the industry after the oil markets experienced one of the largest price drops in...
by Thanvir | Mar 5, 2020 | Benchmark Oil Price
Brent prices could fall to $45 per barrel in April Goldman Sachs lowered its Brent price outlook, saying OPEC + cuts and central bank rate cuts would not be enough to curb a large inventory build caused by declining demand due to the coronavirus outbreak. Brent prices...
