Listado de la etiqueta: brent

Oil Rises From One-Month Low Before U.S. Crude Inventory Data

/en

by Grant Smith

“Oil rose from its lowest close in a month amid estimates that U.S. crude inventories continue to shrink, although refined products are growing more plentiful.

Futures gained as much as 0.9 percent in New York after dropping 1 percent Monday. U.S. crude stockpiles are forecast to have decreased for a fourth week from a record last month, according to a Bloomberg survey before a report from the Energy Information Administration on Wednesday. Meanwhile, U.S. gasoline and distillate inventories probably climbed last week. The industry-funded American Petroleum Institute will release its supply data on Tuesday.

Oil has fallen the past two weeks on concerns increasing U.S. crude production will offset efforts by the Organization of Petroleum Exporting Countries and its allies to eliminate a global supply glut. While Fereidun Fesharaki, the head of industry consultant FGE, says OPEC is certain to extend output cuts when its ministers meet later in May, industry data showed American rigs targeting crude climbed to the highest level in two years.

“Everyone is waiting for the oil-inventory drawdowns materializing as a result of the OPEC and non-OPEC cuts,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich.

West Texas Intermediate for June delivery increased 38 cents to $49.22 a barrel on the New York Mercantile Exchange at 12:15 p.m. London time. Futures fell 49 cents to $48.84 on Monday, the lowest settlement since March 28. Total volume traded was about 16 percent above the 100-day average.

U.S. Fuels

Brent for July settlement rose 54 cents to $52.06 a barrel on the London-based ICE Futures Europe exchange. The contract dropped 53 cents to settle at $51.52 a barrel on Monday. The global benchmark crude traded at a $2.52 premium to July WTI.

Supplies of gasoline probably rose 1 million barrels to 242 million and inventories of distillate fuel, a category that includes diesel and heating oil, surged 1.5 million barrels to 152.4 million last week, according to a Bloomberg survey of eight analysts. Nationwide crude stockpiles are forecast to have dropped by 3.25 million to 525.5 million barrels in the week ended April 28.»

1 de mayo de 2017 19:15 GMT-5

Bloomberg

11 Octubre_shutterstock_393692620

OPEC May Need to Extend Production Cuts to End of Next Year

/en

By Anthony Dipaola

“OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018, a veteran market analyst said.

The reaction of global crude inventories to the cuts will determine how long the Organization of Petroleum Exporting Countries and allied producers stick with their policy of pumping less oil to counter a global glut, said Fereidun Fesharaki, the head of industry consultant FGE. Oil may drop to as low as $40 a barrel if U.S. stockpiles increase, he said Monday at the Middle East Petroleum and Gas Conference in Dubai.

“The probability that OPEC will agree to extend its cuts is at 100 percent,” said Fesharaki, a former adviser in the late 1970’s to the Iranian Prime Minister. “And the cuts will have to be extended even beyond this year, to the middle or even to the end of next year.”

OPEC and 11 other producers including Russia agreed in December to pare production by 1.8 million barrels a day during the first half of this year. They’re seeking to eliminate an oversupply that depressed prices to less than half of their 2014 high, when benchmark Brent crude sold at $115 a barrel. Brent jumped 52 percent last year for the first annual gain after three consecutive decreases and was trading at $51.65 a barrel, down 40 cents, at 5:18 p.m. in Dubai.

The oil market needs more time to start using up stored inventories, which are on the verge of declining, Harold Hamm, chief executive officer of Oklahoma-based Continental Resources Inc., said at the same conference. U.S. oil output is poised to expand this year by at least 400,000 barrels a day, most of it from the Permian Basin, to a level of about 9.4 million barrels a day, he said.

OPEC plans to decide on May 25 at a meeting in Vienna whether to extend its production limits. There’s a consensus that the group will extend the cuts into the second half, Saudi Arabian Minister of Energy and Industry Khalid Al-Falih said last week.”

1 de mayo de 2017 6:33 GMT-5

Bloomberg

Precios del barril de petróleo cotizan a la baja

/en

«Los precios del crudo en los mercados energéticos iniciaron la semana a la baja, pero siguen por encima de la barrera de los 50 dólares, en una jornada de escasos movimientos por el feriado de Pascua en Europa.

El barril de petróleo tipo Brent del Mar del Norte para entregas en junio se cotizaba en 55.51 dólares al inicio de la sesión de hoy (08:00 GMT) en el mercado electrónico Intercontinental Petroleum Exchange (ICE).

El Brent perdía 38 centavos de dólar (0.68 por ciento) respecto al cierre previo, de 55.89 dólares por barril.

En tanto, el crudo estadunidense West Texas Intermediate (WTI) para entregas en mayo, también a las 08:00 GMT, caía 38 centavos de dólar (0.71 por ciento) y se cotizaba en 52.80 dólares por barril.»

NTX/I/GBM/JEH / Notimex 

2017-04-17   05:01:37

shutterstock_122042029

Precio de petróleo a la baja pese a posibilidad de mantener recorte

/en

Los precios del barril de petróleo mantenían este lunes su tendencia a la baja, a pesar del acuerdo de varios miembros de la Organización de Países Exportadores de Petróleo (OPEP), de recomendar al cartel que extienda su acuerdo de recorte de la produción.

La tendencia de este lunes cumplía tres semanas consecutivas, sin que se disipe el temor de que el recorte de producción aplicado por el cartel de productores desde principios de año sea insuficiente para reducir el exceso de oferta en el mercado.

La OPEP y 11 productores fuera del organismo que pactaron la reducción de la producción de crudo, entre ellos Rusia, siguen respaldando el cumplimiento de ese acuerdo, que prevé retirar 1.8 millones de barriles diarios del mercado durante los seis primeros meses del año.

Este fin de semana Algeria, Angola, Irak, Kuwait y Venezuela acordaron recomendar a la OPEP en su reunión del próximo 25 de mayo,  mantener el recorte seis meses más, bajo el argumento de que las existencias de crudo se encuentran altas, indicó un reporte del sitio especialñizado Bloomberg.

En tanto, las reservas de petróleo en Estados Unidos, el mayor consumidor de crudo del planeta, se encuentran en un nivel récord para esta época del año.

El barril de petróleo tipo Brent del Mar del Norte para entregas en mayo se cotizaba en 50.65 dólares al inicio de la sesión de hoy (08:00 GMT) en el mercado electrónico Intercontinental Petroleum Exchange (ICE).

El Brent perdía 15 centavos de dólar (0.30 por ciento) respecto al cierre previo, de 50.80 dólares por barril.

En tanto, el crudo estadunidense West Texas Intermediate (WTI) para entregas en mayo, también a las 08:00 GMT, caía 31 centavos de dólar (0.65 por ciento) y se cotizaba en 47.66 dólares por barril.

Por su parte, la canasta de la OPEP se cotizó el viernes en 48.26 dólares, pérdida de nueve centavos de dólar (0.19 por ciento) respecto al cierre previo, informó el cártel.

 

 

Notimex

2017-03-27   04:53:07 

El barril de petróleo tipo Brent se cotiza en 56.25 dólares, al inicio de la sesión

/en

El barril de petróleo tipo Brent del Mar del Norte para entregas en abril se cotizaba en 56.25 dólares al inicio de la sesión de hoy (08:00 GMT) en el mercado electrónico Intercontinental Petroleum Exchange (ICE).

El Brent perdía 37 centavos de dólar (0.65 por ciento) respecto al cierre previo, de 56.62 dólares por barril. En tanto, el crudo estadounidense West Texas Intermediate (WTI) para entregas en marzo, también a las 08:00 GMT, caía 40 centavos de dólar (0.74 por ciento) y se cotizaba en 53.46 dólares por barril. 

Por su parte, la canasta de la Organización de Países Exportadores de Petróleo (OPEP) se cotizó el viernes en 53.23 dólares, lo que representó una ganancia de 47 centavos de dólar (0.89 por ciento) respecto al cierre previo, informó  el cártel.

Copyright: El Sol de México

Oil stays low ahead of Opec meet

/en

Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak prices overshadowed chances that Opec will reach a deal to cut output.

Donald Trump’s surprise win in last week’s US presidential election boosted the dollar and stocks but undermined oil. Crude has also fallen because of waning expectations that the world’s largest exporters will agree to reduce production this month.

Brent crude futures fell 50 cents on the day to $44.25 a barrel by 2:50pm GMT, while NYMEX crude futures dropped by 57 cents to $42.84 a barrel.

«In the same way that a strong Opec agreement was needed to continue the rally above $55, a lack of agreement will be needed to break below $40 and right now, we’re at $45,» Petromatrix strategist Olivier Jakob said.

Opec plans to cut or freeze output, but analysts doubt the group’s ability to reach an agreement at its meeting on 30 November.

Opec said on Friday its output hit a record 33.64 million barrels per day in October, and forecast an even larger global surplus in 2017 than the International Energy Agency (IEA) on Thursday.

Yet, Saudi Energy Minister Khalid al-Falih has said it was imperative for Opec to reach a consensus on activating a deal made in September in Algiers to cut production.

«Opec know what needs to be done but too few members will agree to take the production pain for the price gain, knowing also that the price gain incentivises non-Opec to produce more, lengthening the rebalancing process,» PVM Oil Associates analyst David Hufton said.

The dollar index hit an 11-month peak on Monday, driven by an aggressive sell-off in bonds that has pushed Treasury yields to their highest since January.

Ordinarily, a strong dollar would push oil lower, but the correlation between the two is at its most positive in two months, suggesting they are more likely to move in lockstep with one another than in opposite directions.

Data from the InterContinental Exchange on Monday showed investors delivered the largest weekly cut on record to their bets on a sustained rise in the price of oil.

15 Noviembre_shutterstock_349461494

Copyright: Up Stream

Oil Trades Near $44 as U.S. Election Sends Stocks, Dollar Higher

/en

Oil traded near $44 a barrel in New York amid a broader market rally driven by speculation Hillary Clinton’s chances of winning the U.S. election increased after the FBI said her handling of her e-mails wasn’t a crime.

Futures rose as much as 2.1 percent in New York following the Federal Bureau of Investigation’s report. The S&P 500 Index was set for its biggest gains since June and the dollar rose against its peers for the first time in seven sessions. Russia, the world’s biggest energy producer, is “on board” with an OPEC agreement to limit crude oil production to help re-balance the market, according to OPEC Secretary General Mohammed Barkindo.

«The U.S. election is front and center in all the markets,» said Chris Kettenmann, chief energy strategist at Macro Risk Advisors LLC in New York. «There was talk over the weekend of Russia agreeing to limit production in cooperation with OPEC, but we need to see a resolution from the Nov. 8 vote before the focus shifts to Nov. 30.»

Oil retreated below $45 a barrel following the failure of the Organization of Petroleum Exporting Countries to agree on output quotas for member countries on Oct. 28, which must happen before a deal can be finalized. OPEC pumped at a record rate in October, according to data compiled by Bloomberg.

West Texas Intermediate for December delivery rose 32 cents, or 0.7 percent, to $44.39 a barrel at 11:26 a.m. on the New York Mercantile Exchange. The contract slid 59 cents to $44.07 on Friday, the lowest close since Sept. 20. Prices fell 9.5 percent last week, the most in almost 10 months.

Election Focus

Brent for January settlement rose 4 cents to $45.62 a barrel on the London-based ICE Futures Europe exchange. Prices declined 8.3 percent last week, the most since January. The global benchmark traded at an 68-cent premium to January WTI.

«The stock market is up on the increasing likelihood of a Hillary Clinton victory,» said Thomas Finlon, director of Energy Analytics Group LLC in Wellington, Florida. «This is also strengthening the dollar, which is weighing on commodities.»

The Bloomberg Dollar Spot Index, a gauge of the greenback against 10 major peers, rose as much as 0.5 percent. A stronger U.S. currency reduces the appeal of dollar-denominated raw materials as an investment.

A magnitude 5 earthquake struck near Cushing, Oklahoma, the nation’s largest crude-storage hub, prompting some pipeline operators to shut operations at the site as a precaution. Oklahoma’s oil and gas regulator reported that all pipelines under its jurisdiction were operating again after shutting down as a precaution because of the temblor, centered less than 2 miles west of Cushing.

Gasoline dropped to the lowest level in seven weeks after Colonial Pipeline Co. restarted the largest U.S. line for the fuel Sunday, six days after an explosion and fire in Alabama during planned work.

December gasoline futures fell 1.5 percent to $1.3579 a gallon after touching $1.3561, the lowest since Sept. 20. 

Copyright: Bloomberg

Crudo tiene datos mixtos en la semana

/en

El petróleo bajó ligeramente el viernes, mientras los operadores equilibraban la fortaleza del dólar y otro aumento de las plataformas de perforación en Estados Unidos con las expectativas de que el plan de recorte de producción de la OPEP mantendrá el crudo sobre los 50 dólares por barril.

El dólar registró su mejor desempeño semanal en más de siete meses frente a una cesta de monedas pesando sobre los precios de las materias primas denominadas en el billete verde, incluyendo el petróleo.

Un reporte del proveedor de servicios petroleros Baker Hughes, por su parte, mostró que los perforadores estadounidenses agregaron cuatro plataformas en la semana al 14 de octubre. Ésa fue la decimosexta semana seguida sin reducciones, lo que es un indicativo de una mayor producción futura. A pesar de ello, los precios de los contratos a futuro del petróleo cerraron en baja. El crudo Brent, el referencial negociado en Londres, retrocedió 8 centavos o 0.2%, a 51.95 dólares el barril. El balance de la semana es estable.

Los futuros del West Texas Intermediate (WTI) de Estados Unidos perdieron 9 centavos, a 50.35 dólares por barril. Acumularon un alza de 1% en la semana.

La mezcla mexicana de exportación finalizó la semana con 10 centavos de ganancia, respecto de la jornada pasada, al venderse en 41.57 dólares por barril, informó Petróleos Mexicanos (Pemex).

De acuerdo con Banco Base las mezclas de crudo de EU, México e Inglaterra concluyeron la semana con ganancias, ante un incremento en el positivismo de los participantes del mercado en torno a los fundamentales de petróleo.

“No hay una gran noticia que impulse al mercado”, dijo Phil Flynn, analista de la correduría de Chicago Price Futures Group. Desestimó el aumento del número de plataformas petroleras partiendo de que la mayoría de analistas considera que deben subir en más de 10 en una semana, para tener un impacto bajista sustancial sobre los precios.

Muchos creen que los precios podrían seguir subiendo en el corto plazo por las expectativas relacionadas con los recortes de producción propuestos por la Organización de Países Exportadores de Petróleo (OPEP).

Los precios del petróleo han tendido a subir desde el 27 de septiembre, con un alza acumulada del Brent de cerca de 13% y llegando a máximos de un año de más de 53 dólares por barril, después de que la OPEP anunció su primer recorte planeado de producción en ocho años. (Con información de Notimex)

17 Octubre_shutterstock_369693467

Fuente: El Economista

Oil Speculators Most Bullish Since ’14 After Wild Two Months

/en

Oil investors must be getting dizzy.

In the two months since OPEC began talking about capping production, speculators’ sentiment has swung wildly, with government and exchange data showing the four biggest weekly position changes ever for the two global benchmark crudes. The latest shift is to optimism, with money managers the most bullish on West Texas Intermediate oil in two years.

«Since the summer we’ve had big moves in net length,» said Mike Wittner, head of oil-market research at Societe Generale SA in New York. «It usually has trended up or down over a couple of months. Now this is happening in a matter of weeks. We’re seeing huge shifts.»

Money managers reduced bets on lower WTI prices by more than half in the past three weeks as OPEC agreed to its first deal to cut output in eight years. That drove net length to the highest since July 2014 in the week ended Oct. 11, Commodity Futures Trading Commission data show. Brent longs also rose, leaving the combined length of the two benchmark contracts at the highest in at least five years.

The Organization of Petroleum Exporting Countries agreed on Sept. 28 in Algiers to trim output to a range of 32.5 million to 33 million barrels a day, which is due to be finalized at the Vienna summit next month. OPEC took a step toward coordinated supply curbs with Russia last week and will meet for a “technical exchange” to set a road map for output levels later this month.

The swings in sentiment have tracked the rocky road to $50 a barrel oil. Speculators’ combined WTI and Brent crude net position rose or fell more than 100,000 contracts four times in the past two months, the only moves of that size in CFTC and ICE Futures Europe data going back to 2011.

Prices began to rise after OPEC’s president said Aug. 8 that the group would hold informal talks in Algiers and Saudi Arabia signaled Aug. 11 it was prepared to discuss taking action to stabilize markets. Futures gave up most of those gains amid doubts that Saudi Arabia and Iran to reach an deal, before the agreement in Algiers sparked the latest rally.

«The change in tone from the Saudis is important,» said Kurt Billick, the founder and chief investment officer of Bocage Capital LLC in San Francisco, which manages about $432 million in commodities equities and futures. «Getting to a yes in Vienna is challenging. That they are willing to talk about a deal is a big change.»

Money managers’ short position in West Texas Intermediate crude, or bets on falling prices, shrank by 28 percent to 71,407 futures and options. Longs rose 1.8 percent to the highest since June 2014. The resulting net-long position increased 13 percent.

WTI increased 4.3 percent to $50.79 a barrel in the report week. Prices on Monday were down 0.6 percent at $50.04 a barrel as of 9:13 a.m.

Other Markets

In the Brent market, money managers boosted net longs by 11 percent to 396,694 during the week, according to data from ICE Futures Europe. It was the most bullish total since April.

In fuel markets, net-bullish bets on gasoline rose 19 percent to 36,650 contracts, the highest since March 2015, as futures slipped 1.1 percent in the report week. Wagers on higher ultra low sulfur diesel prices climbed 46 percent to 9,074. Futures rose 2.1 percent.

The scale of the internal differences OPEC must resolve before securing a deal to cut supply was revealed Oct. 12 as the group’s latest output estimates showed a half-million-barrel difference of opinion over how much two key members are pumping.

“The bottom line is that they’ve made an agreement,» Wittner said. “If you are going short you are betting against the Saudis, which isn’t a good thing historically.»

17 Octubre_Oil Speculators

Copyright: Bloomberg

Petróleo resiste ‘embate’ del dólar y cierra semana con ganancias

/en

Los precios del petróleo profundizaron las pérdidas al cierre de sesión, dejando atrás los niveles máximos del año que alcanzaron en la sesión previa motivados por las expectativas de un acuerdo entre los miembros de la OPEP para limitar su producción y por el descenso de las reservas de crudo estadounidenses.

El contrato del crudo WTI para entrega en noviembre cayó por debajo de los 50 dólares por barril después de que Rusia pusiera en duda un acuerdo en el corto plazo con la OPEP, tras el compromiso del grupo para reducir la producción.

El barril de crudo estadounidense cayó 1.24 por ciento, para cotizarse en 49.81 dólares. En el balance semanal, el WTI acumuló una ganancia de 3.25 por ciento.

Por su parte, el barril del Brent para entrega en diciembre terminó la jornada en 51.93 dólares, una baja de 1.10 por ciento frente al cierre previo de 52.50 dólares en el Intercontinental Petroleum Exchange (ICE). En el conjunto de la semana el barril ganó 5.85 por ciento.

Pese al descenso, ambos referenciales aún marcan un 10 por ciento de alza contratos vigentes de crudo desde que las naciones de la OPEP, entre ellos los rivales Arabia Saudita e Irán, anunciaron el 28 de septiembre un acuerdo tentativo para recortar moderadamente sus niveles de producción.

Se espera que los detalles de los recortes queden definidos antes de la reunión formal de la OPEP del 30 de noviembre, lo que ha llevado a creer a algunos participantes del mercado que los precios quedarán sobre una barrera de soporte de 50 dólares por barril hasta entonces.

En el corto plazo, el mercado también era apoyado por el paso del huracán Matthew por las costas de Estados Unidos, ya que se teme que pueda interrumpir las importaciones de crudo del país y provocar, eventualmente, escasez de combustibles.

11 Octubre_shutterstock_377851117

Fuente: El Financiero