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Oil prices are rising after the closure of US pipelines


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 2021-04-28 04:32
 

Shafaq News / The US commodity research team at Goldman Sachs (NYSE: GS) expected, on Wednesday, that Brent price would rise to $ 80 a barrel over the next 6 months, with the reversal of restrictions associated with the Coronavirus, lower interest rates and a weak dollar.

The bank said, "It is expected that the price of Brent crude will rise to $ 80 a barrel and US West Texas Intermediate crude to $ 77 during the next six months."

The bank added, "We expect the largest jump in demand for oil at all, an increase of 5.2 million barrels per day over the next six months," referring to the acceleration of vaccinations in Europe and the liberalization of latent demand for travel.

"The easing of international travel restrictions in May will lead to a recovery in demand for jet fuel by 1.5 million barrels per day," he said.

The bank expects that "gold prices will recover at two thousand dollars an ounce over the next six months, and it is too early to compete with the formation of the yellow metal in demand for a safe haven," adding that "the two can exist together."

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 2021-05-04 01:51
 

Shafaq News / Oil maintained its gains on Tuesday, with optimism that the resumption of economic activity in the United States and Europe will boost demand.

The European Union plans to ease restrictions on vaccinated travelers this summer, as states across the New York area prepare to ease travel restrictions, offsetting concerns about weak oil consumption in parts of Asia, including India, where Covid-19 remains. 19 outbreaks.

US WTI crude for June delivery was slightly down at $ 64.46 a barrel on the New York Mercantile Exchange at 0.530 GMT.

Brent crude for July fell 3 cents to $ 67.53 on the ICE Futures Exchange.

Market strength so far in May will also encourage members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies as they recover some of the barrels they lowered earlier.

Iraq, the second largest producer in OPEC, said prices would likely remain at $ 65 a barrel in the coming months.

However, the health crisis in India remains grave as infections and deaths mount, while Prime Minister Narendra Modi has resisted calls for another nationwide lockdown across the third-largest oil importer.

Elsewhere in Asia, countries such as Japan, Thailand, Laos, Nepal and Bhutan have reported large increases in infections over the past few weeks.

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YEP,and lumber is up over 500% in the last year, 

Copper is up by more than 50 %

Corn up over 50%

Wheat up 45%

Housing up 43%

Soybeans up 50% 

Steal up 65%

But guess what?

YOU CAN STILL BUY SILVER AT THE BASEMENT BARGAIN PRICE OF JUST $31 DOLLARS AN OUNCE. 

 

By the time the Democratic Communist party is finished destroying America Shabbs will be elated and Silver will be triple digits. :bravo:

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Well 80-95 dollars shouldn’t be a problem because sleepy Joe is gonna have everyone driving electric cars in 6 months, right...come on Saudi raise it to a 100 we don’t care. 

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calendar.png 05/10/2021
 
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Follow-up / Al-Mawred News

Crude prices rose today, Monday, after a major cyber attack caused the closure of important fuel supply pipelines in the United States and highlighted the fragility of its oil infrastructure.

By 06:45 GMT, Brent crude rose 57 cents, equivalent to 0.8%, to $ 68.85 a barrel, after rising 1.5% last week. US West Texas Intermediate crude futures rose 51 cents, or 0.8%, to $ 65.41 a barrel, after rising more than 2% last week.

In a sign of the gravity of the situation, the White House was working closely with Colonial Pipeline to help it recover from a software-tech attack on Friday that forced the largest US fuel pipeline operator to shut down a network supplying densely populated states in the east of the country.

"The main idea is that bad guys are very adept at finding new ways to infiltrate infrastructure," Andrew Lipo, president of Lipo Oil Associates, told Reuters. "The infrastructure has not developed defenses that can counter all the different ways in which malware can infect." Damage to the system. "

Goldman Sachs said that he expected oil demand to reach pre-pandemic levels by the end of the year, and that Brent crude oil prices would reach $ 80 a barrel and West Texas Intermediate would reach $ 77 a barrel within six months.

Goldman analysts said in a note: "We see a deficit in the global oil market that is currently about one million barrels per day, and it will increase significantly from this .. We still expect oil demand to reach 100 million barrels per day by the end of this year."

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The rise in oil prices and Brent is close to the barrier of $ 69 a barrel

Economie12:10 - 10/05/2021

 
image
 
 

 

Follow-up - Mawazine News:
Crude oil prices recorded, on Monday, a noticeable increase after a major cyber attack that caused the closure of important fuel supply pipelines in the United States.
Brent crude rose 57 cents, equivalent to 0.8 percent, to reach $ 68.85 a barrel.
U.S. West Texas Intermediate crude futures rose 51 cents, or 0.8 percent, to $ 65.41 a barrel. Ended 29 / p4

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Oil prices are rising after the closure of US pipelines

 
 Capitals: agencies
Crude prices rose on Monday after a major cyber attack caused the closure of important fuel supply pipelines in the United States, and highlighted the fragility of its oil infrastructure.
Prior to the opening of European markets, Brent crude rose 57 cents, equivalent to 0.8 percent, to $ 68.85 a barrel, after rising 1.5 percent last week. US West Texas Intermediate crude futures rose 51 cents, or 0.8 percent, to $ 65.41 a barrel, after rising more than 2 percent last week.
 
In a sign of the gravity of the situation, the White House has been working closely with Colonial Pipeline to help it recover from a ransomware attack that forced the largest US fuel pipeline operator to shut down a network supplying densely populated states in the east of the country.
"The main idea is that the bad guys are very adept at finding new ways to penetrate the infrastructure," Andrew Lipo, president of Lippo Oil Associates, told Reuters. Colonial’s network is the source of nearly half of the fuel supply for the eastern coast of the United States, and it transports 2.5 million barrels per day of gasoline and other fuels. The company was forced to shut down all pipelines after Friday’s cyber attack, which included ransomware. Goldman Sachs said he expected oil demand to reach pre-pandemic levels by the end of the year, and predicted that Brent crude would reach $ 80 a barrel and West Texas Intermediate would reach $ 77 a barrel within six months.
"We see a deficit in the global oil market, which is currently about one million barrels per day, and it will increase significantly from this," Goldman analysts said in a note. "We still expect oil demand to reach 100 million barrels per day by the end of this year," they said.
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