Oil at its lowest since early October and continues to fall in price, Brent - $ 80 per barrel
09:40 19.11.2021 5324
Oil finished trading on Wednesday at the lowest level since early October and continues to fall in price.
The market continues to react to news that the administration of US President Joe Biden is considering selling oil from the strategic reserve. At the same time, during a virtual summit with Chinese President Xi Jinping, the possibility of a similar step by China was discussed, Interfax reports.
The oil market was not supported even by the data on the reduction of oil reserves in the US last week, MarketWatch notes.
January futures for Brent oil on the London stock exchange ICE Futures by 08:05 Moscow time fell in price by $ 0.28 (0.35%) – to $ 80 per barrel. On Wednesday, their price fell by $ 2.15 (2.6%) and amounted to $ 80.28 per barrel at the close, which is the lowest level since October 7.
Quotations of futures for the WTI grade for December in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning are reduced by $ 0.67 (0.86%) – to $ 77.69 per barrel. As a result of the previous session, their price fell by $ 2.4 (3%), ending the day at $ 78.35 per barrel – at least since October 1.
Oil reserves in the United States last week decreased by 2.1 million barrels – to 433 million barrels, the country's energy ministry said. Gasoline reserves decreased by 707 thousand barrels, distillates – by 824 thousand barrels.
The work of the Interdepartmental Commission on the Caspian Sea was discussed at the Ministry of Foreign Affairs of Turkmenistan
The 63rd meeting of the Interdepartmental Commission of Turkmenistan on the Caspian Sea was held at the Ministry of Foreign Affairs on February 23. The meeting was attended by the relevant Vice-Chairmen of the Cabinet of Ministers of the country, the Director of the Caspian Sea Institute, heads of a number of ministries and specialized departments.
Products of oil refineries were sold at the auction
Last week, 35 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan.
The President of Turkmenistan and the Vice President of the UAE noted the active dynamics of cooperation in the energy, oil and gas and other spheres
The development of bilateral cooperation was discussed at a meeting on February 21 between the President of Turkmenistan Serdar Berdimuhamedov and the Vice President, Deputy Prime Minister, Minister of the Presidential Administration of the United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, who arrived in our country on a visit, TDH reports.
Dynamic development of national investments is carried out at the fields of Turkmenistan
Vice-Chairman of the Cabinet of Ministers Shakhym Abdrakhmanov, during an extended meeting of the government last Friday, reported on the work carried out by the oil and gas complex to increase oil and natural gas production, as well as the timely development of national investments in the coming years.
Liquefied gas and jet fuel were sold abroad at the auctions, and polypropylene and base oil were sold to the domestic market
27 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.