Oil at its lowest since early October and continues to fall in price, Brent - $ 80 per barrel
09:40 19.11.2021 5040
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.
State visit of the President of Turkmenistan to Tajikistan begins
President of Turkmenistan Serdar Berdimuhamedov arrived on Wednesday on a two-day state visit to Tajikistan, following the talks, it is planned to sign a package of bilateral documents, TDH reports today.
Extraordinary meeting of the Halk Maslahaty of Milli Gengesh will be held on February 11
Extraordinary meeting of the Halk Maslahaty of the Milli Gengesh of Turkmenistan is scheduled to be held on February 11. This is provided for by the decree of President Gurbanguly Berdimuhamedov, who heads the People's Council – the upper house of the parliament of our country.
Oil price breaks seven-year records on supply worries
Oil prices continue to rise on Wednesday, renewing the highs since 2014 due to the risks of supply disruptions from the Middle East, Interfax reports.
Demand for oil in 2022 will grow by 3.3 million barrels per day, the market will be in short supply – IEA
Demand for oil in 2021 increased by 5.5 million barrels per day, and in 2022 it will increase by 3.3 million bpd, Interfax and Bloomberg report citing a report by the International Energy Agency (IEA).
Products of Turkmennebit and Turkmenchemistry have become the subject of foreign exchange transactions at the auction
69 transactions were concluded at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.