Oil firm as Iran sanctions loom, but US seeks to prevent supply shortfall

US West Texas Intermediate (WTI) crude futures were at $67.61 per barrel at 0112 GMT, up 7 cents from their last settlement. Brent crude futures climbed 11 cents to $77.48 a barrel.

Oil was steady on Tuesday, supported by looming US sanctions against Iran's petroleum industry.
But prices were capped by signs that increased supplies by other major producers, including the United States and Saudi Arabia, could make up for the disruptions from Iran.
US West Texas Intermediate (WTI) crude futures were at $67.61 per barrel at 0112 GMT, up 7 cents from their last settlement. Brent crude futures climbed 11 cents to $77.48 a barrel.
"It was a mixed performance in the crude oil market," said ANZ bank in a note, pointing to Washington's sanctions against Iran's oil exports that will be enforced from November.

Comments

Post a Comment

Popular posts from this blog

Share market update: Nifty Private Bank index rises; RBL Bank up over 1%

Image
NEW DELHI: Shares of private sector banks were trading in the positive zone with the Nifty Private Bank index up 0.14 per cent at 15,188.20 around 02:54 pm on Thursday.  Shares of RBL Bank (up 1.49 per cent), Federal BankNSE 1.78 % (up 1.14 per cent) and IndusInd Bank (up 0.88 per cent) were trading higher .  South Indian Bank (up 0.33 per cent), ICICI Bank (up 0.22 per cent) and YES Bank (up 0.20 per cent) too were trading with gains.  Benchmark NSE Nifty50 index was up 62.50 points at 10,792.35 while the BSE Sensex was up 225.51 points at 35,875.45.  Among the 50 stocks in the Nifty index , 26 were trading in the green, while 23 were in the red.  Shares of YES Bank, Indian Oil Corp, Bank of Baroda, Infosys, Idea Cellular, SBI, Vedanta, RIL, BEL and ONGC were among the most traded shares on the National Stock Exchange.  For More Details, You Can Contact On:  HELPLINE NO: +91-9770099099 For Free Trial:  http...
Read more

'Oil prices should start to stabilise in first-half of 2019'

Image
Russian Energy Minister Alexander Novak said on Tuesday that oil prices, which fell by more than a third this quarter, would become more stable in the first half of 2019.  The Organization of the Petroleum Exporting Countries (Opec) and other large oil producers led by Russia agreed earlier this month to cut their combined crude output by 1.2 million barrels per day from January in order to stem the fall in oil prices.  "I think that during the first half, due to joint efforts, which were confirmed by the Opec and non-Opec countries this December, the situation will be more stable, more balanced," Novak said in an interview on Rossiya-24 TV.  Novak also said there were no proposals for an extraordinary meeting with Opec, and he attributed the fall in oil prices to macroeconomic factors .  "Those are the fundamental factors: the decrease of demand in winter and, of course, the macro economy as we've been witnessing a decline in global economic activity...
Read more

Gold prices flat ahead of Trump-Xi meet at G20 summit

Image
BENGALURU: Gold prices were flat early on Friday as the dollar steadied ahead of the G20 meet in Argentina this weekend, where US and Chinese leaders are scheduled to discuss trade matters after months of tensions.  Fundamentals  Spot gold was flat at $1,223.77 per ounce at 0126 GMT . Prices had hit a one-week high of $1,228.96 per ounce on Thursday.  US gold futures were down 0.2 per cent at $1,221.6 per ounce.  Palladium was up about 0.2 per cent at $1,183.20 per ounce after hitting a record high of $1,190 earlier in the session. The metal was on track to mark its best month since December 2017.  The dollar index , which measures the greenback against a basket of six major currencies, traded marginally higher at 96.79 on Friday.  Share markets ticked slightly lower in early Asian trade as investors looked to the G20 summit.  US President Donald Trump sent mixed signals on Thursday about the prospects for a trade ...
Read more