CLU22.NYM - Crude Oil Sep 22
| Pre. Settlement | N/A |
| Settlement date | 2022-08-22 |
| Open | 38.71 |
| Bid | 0.00 |
| Last price | 39.55 |
| Day's range | 38.71 - 38.71 |
| Volume | 2 |
| Ask | 0.00 |
- Yahoo Finance
Stock market news live updates: Stocks rise as reopening hopes offset concerns over ongoing protests
Stocks rose, tracking advances in global equities as investors eyed stabilizing economic data alongside ongoing protests across the country, which spurred some concerns of a ramp-up in coronavirus cases following a deescalation in the outbreak.
- Reuters
U.S. sanctions four shipping firms for transporting Venezuelan oil
Marshall Islands-based Afranav Maritime Ltd, Adamant Maritime Ltd and Sanibel Shiptrade Ltd, as well as Greece-based Seacomber Ltd, all own tankers that lifted Venezuelan oil between February and April of this year, the Treasury Department said. "These companies are transporting oil that was effectively stolen from the Venezuelan people," Secretary of State Mike Pompeo said in a statement.
- Zacks
Implied Volatility Surging for Whiting Petroleum (WLL) Stock Options
Investors need to pay close attention to Whiting Petroleum (WLL) stock based on the movements in the options market lately.
- Zacks
Is the Options Market Predicting a Spike in Callon Petroleum (CPE) Stock?
Investors need to pay close attention to Callon Petroleum (CPE) stock based on the movements in the options market lately.
- The Telegraph
Push for more cuts sends oil close to $40 a barrel
The world's biggest oil producers are close to extending output cuts as part of a battle to shore up prices following a collapse in demand. Russia and Saudi Arabia are inching closer to a deal which will keep production low as much of the world slowly emerges from lockdown. Talks between the two sides sent the Brent crude benchmark rallying to almost $40 a barrel, its highest since early March. Oil prices rise if less of the fossil fuel is being sold on the market because buyers are forced to outbid each other. A conference call between Moscow and nations in the Saudi-led Opec cartel which was originally planned for June 9 has been brought forward to this Thursday in a bid to secure agreement. Riyadh is said to be pushing for bigger production cuts to support oil prices, but other nations are keen to increase output to bring in more revenue. Under the current deal, agreed in April, a reduction of 9.7m barrels a day - about a tenth of global production - will fall to 8m from July 1. Friction has emerged between Russia and Saudi Arabia, the two countries responsible for triggering a price war in March that along with the pandemic sent oil prices crashing. They were later the driving force behind the cuts as part of a bid to repair relations. The Saudis are keen to maintain the current level of cuts until the end of the year, while Russia is said to be pushing for gradual output hikes. The pair are discussing a compromise that would see cuts maintained until September 1.
- FX Empire
Crude Oil Price Update – Attempting to Cross to Bullish Side of Major 50% Level at $36.07
The direction of the July WTI crude oil futures contract is likely to be determined by trader reaction to the 50% level at $36.07.
- FX Empire
Price of Gold Fundamental Daily Forecast – Demand for Risk Continues to Limit Gains
Essentially, the current rally lacks the momentum to continue as bullish traders await the next catalyst to drive gold prices higher.
- Reuters
Exclusive: China approves $20 billion mega petchem complex in Shandong oil hub - sources
China is reviving a $20 billion petrochemical project in eastern Shandong province as part of efforts to dial up infrastructure spending to support an economy struggling with the impact of the coronavirus pandemic, two China-based industry sources said. The 400,000 barrel-per-day (bpd) refinery and 3 million tonne-per-year ethylene plant in Yantai, Shandong, the country's hub for independent oil refineries, was proposed years ago but approval has been slowing in coming because of China's struggle with excess refining capacity. China's state planner, the National Development & Reform Commission (NDRC), gave initial approval on Monday for the project, allowing Shandong province to start planning for construction, said the sources with knowledge of the approval.
- FX Empire
Gold Sold Despite Multiple Tailwinds
The Commitments of Traders report covering positions held and changes made by money managers in the week to May 26 found that speculators maintained strong buying interest in crude oil while selling was most noticeable in natural gas, gold and the three major crops.
- Investing.com
Crude Oil Higher; OPEC+ Meeting Eyed
Investing.com - Oil markets traded higher Tuesday, with traders looking ahead to the next meeting of the major producers amid expectations they will agree to extend record production cuts.
- FX Empire
Oil Price Fundamental Daily Forecast – OPEC+ to Discuss Production Cut Extension to September 1
Russia is likely to be the key obstacle in any extension. Furthermore, they are unlikely to agree to an extension which goes beyond two months.
- Reuters
Russian oil output falls to 9.39 million bpd in May, close to OPEC+ goal - Ifax
Russian oil and gas condensate production fell to 39.7 million tonnes (9.39 million barrels per day) in May, near its target under a deal within the OPEC+ group, Interfax news agency reported on Tuesday, citing energy ministry data. The figure was in line with data from sources, reported by Reuters on Monday, and down from 11.35 million barrels per day (bpd) in April. Under the agreement between Russia and the Organization of the Petroleum Exporting Countries, a group known as OPEC+, Moscow has pledged to reduce its output by around 2.5 million bpd to 8.5 million bpd to help support oil prices.
- FX Empire
Geopolitics and U.S Riots Back in Focus with the Stats on the Lighter Side
With the RBA holdings policy unchanged, the focus returns to the key risk drivers. Continued unrest in the U.S and tensions between the U.S and China are in focus.
- Reuters
Oil rises nearly 3% ahead of OPEC+ meeting, easing lockdowns
Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. states begin to restart after coronavirus lockdowns. "Most likely, OPEC+ could extend current cuts until Sept. 1, with a meeting set before then to decide on next steps," said Citi's head of commodities research Edward Morse. Under the original OPEC+ plan, the cuts were due to run through May and June, scaling back to a reduction of 7.7 million bpd from July to December.
- Coindesk
Market Wrap: As Bitcoin Steadies, Oil’s Turmoil Continues
The bitcoin market has nothing on oil’s volatility in 2020.
- Yahoo Finance
Stock market news live updates: Stocks slightly higher amid unrest, US-China tensions
Stocks turned positive Monday morning, steadying against a backdrop of protracted protests in some of the nation’s largest cities, many of which had already been struggling to reopen amid the coronavirus outbreak.
- FX Empire
S&P 500 Price Forecast – Stock Markets Continue to Peddle Sideways
The S&P; 500 has continued to go back and forth during the trading session on Monday. Between the 3000 and the 3100 levels, there is clearly a lot of fighting.
- Reuters
Coal India's May sales driven sharply lower by slump in power demand
Coal India's sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lockdown to curb the spread of the coronavirus. Offtake by customers, such as power generators, fell to 39.95 million tonnes in May, down 23.3% year on year, though that represented a slight improvement from the 25.5% fall in April. More than three quarters of the electricity generated in India is derived from coal, with Coal India - the world's largest coal miner - accounting for more than four fifths of India's domestic production.
- Reuters
Exclusive: China snaps up Russia's expensive Urals oil in thirst for sour barrels
China's refiners have purchased a quarter of Russia's Urals oil exports planned for June in the Baltic despite record high premiums for the grade due to a lack of sour barrels as result of the OPEC+ output cuts, traders said and shipping data showed. Rising demand for Russian barrels will likely make oil firms more reluctant to extend the record oil cuts in tandem with OPEC+ for a prolonged period of time. Russia has to decide shortly as OPEC+ countries may meet this week.
- FX Empire
Oil Mixed As Traders Wait For Clarity On Production Cuts
Oil swings between gains and losses as hopes for the extension of current production cuts are offset by worries about U.S. – China trade war.
- Reuters
Russia's May oil output fell close to OPEC+ target - ministry
Russian oil production, excluding gas condensate, fell to 8.59 million barrels per day (bpd) in May, near country's target under a an OPEC+ pact, the energy ministry said on Tuesday. The Interfax news agency, citing ministry data, had earlier said that Russian oil and gas condensate production declined to 39.7 million tonnes (9.39 million bpd) in May. That was in line with data from sources, reported by Reuters on Monday, and down from 11.35 million bpd in April. Under the agreement between the Organization of the Petroleum Exporting Countries, Russia and other producers, a group known as OPEC+, Moscow has pledged to reduce output by about 2.5 million bpd to 8.5 million bpd to support oil prices.
- Oilprice.com
Oil Prices Spike On Hopes Of OPEC+ Deal Extension
Oil prices rose early on Tuesday as market participants hope that the OPEC+ group may decide in the coming days to roll over the record output cut deal
- Financial Times
Maduro risks backlash by increasing Venezuela’s petrol prices
Venezuelans awoke to new petrol prices on Monday — and the realisation that for the first time in decades they will have to pay close to market rates if they want to fill up their tanks more than a few times a month. The revolutionary socialist government unveiled its pricing regime over the weekend, risking the ire of people who are already suffering terrible hardships, and who for years have taken free petrol for granted in one of the most oil-rich nations on earth. In the past, fuel price rises have triggered outrage and protests, most notably during the infamous “Caracazo” riots of 1989 in which hundreds died.
- FX Empire
GBP/USD Shows Renewed Upward Momentum After Clearing Important Resistance
GBP/USD continued to push higher and trades a fresh one-month high in early trading on Tuesday as the dollar continues to tumble.
