empty
07.02.2023 11:46 PM
Oil price rises after earthquakes in Turkey and Syria

This image is no longer relevant

Oil prices rise on Tuesday, recouping part of Friday's losses. This is largely due to the aftermath of the devastating earthquakes in Turkey and Syria.

Brent crude for April delivery added 1.69% at $82.47 a barrel on the London ICE Futures Exchange at 12:19 London time.

The price of WTI futures for March crude oil on the electronic trading at the New York Mercantile Exchange rose by 1.79% to $75.44 a barrel by that time.

The West Texas Intermediate (WTI) for March delivery rose by 1.79% to $75.44 a barrel on the New York Mercantile Exchange.

The devastating earthquake in Turkey and Syria on Monday led to halted operations at Turkey's major oil export hub in Ceyhan, while operations at Syria's largest oil refinery in the city of Baniyas have also been suspended.

At the same time, the prospect of an economic rebound in China after COVID-19 curbs eased has buoyed the oil market so far. China is one of the largest consumers and importers of oil, so the strengthening of its economy will also increase the global demand for oil products.

Saudi Arabia's decision to raise prices for most grades of its crude oil for Asian customers confirms the fact that demand in China is increasing. State-run Saudi Aramco announced that the official selling price (OSP) of Arab Light, the main type of oil supplied to Asia, has been raised by $0.2 per barrel. As a result, starting from March, this oil grade will cost Asian countries $2 per barrel more expensive than oil from Oman and Dubai.

Apparently, the demand for oil in China will be somewhat higher than analysts expected. Phil Flynn, chief analyst at The Price Futures Group, notes that this fact should provide substantial support for the oil market, given investors' concerns about the amount of spare production capacity in the world.

Prior to that, Jeff Currie, chief commodity markets analyst at Goldman Sachs, said that capacity is likely to become a problem later this year when demand outstrips supply.

As for Russian exports, Russia's offshore oil exports declined by 140,000 bpd last week. In absolute terms, supplies amounted to 3.4 million barrels, while the monthly average rose to almost 3.5 million.

Supplies are increasing due to the diversion of pipeline supplies from the northern branch of the Druzhba pipeline and the reduction of oil refining due to the new EU sanctions.

Oil exports to Turkey, the only country in the Mediterranean that buys Russian crude, are also gradually increasing. Average deliveries for the 4th week are about 160 thousand barrels per day. Bulgaria receives another 125,000 by the Black Sea. The rest goes to Asia, mostly to India and China.

Andreeva Natalya,
Analytical expert of InstaForex
© 2007-2025
选择时间框架
5
分钟
15
分钟
30
分钟
1
小时
4
小时
1
1
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

3月20日美國市場新聞摘要

雖然S&P 500顯示出樂觀情緒,但自3月14日以來的增長更被看作是一次調整。如果價格穩定在5,769以上,則向5,881-5,910目標範圍前進的可能性更大。

Ekaterina Kiseleva 11:26 2025-03-20 UTC+2

黃金熱賣:每盎司突破3,057美元,指數也上升

美國股市指數週三上漲,此前美聯儲作出預期決定,維持基準利率不變,這是在評估特朗普總統的關稅政策對經濟和通脹的影響之際作出的。 美聯儲將隔夜利率保持在4.25%-4.50%的區間,維持先前宣佈的全年兩次降低四分之一個百分點的預測。

Thomas Frank 10:26 2025-03-20 UTC+2

3月19日美國市場新聞摘要

本應開始歡慶其年度開發者大會的Nvidia,卻見其股價下跌。而Tesla則因Elon Musk最近的動作而依然震盪,RBC更調低了該公司的目標價格,給其帶來了打擊。

Natalia Andreeva 10:52 2025-03-19 UTC+2

市場恐慌:納斯達克暴跌1.71%,黃金刷新歷史高位

科技股下跌,而黃金攀升至新高紀錄 在年度軟體開發者大會開始之際,Nvidia 股價下跌。RBC 下調了其股票的目標價後,Tesla 股價下跌。

09:35 2025-03-19 UTC+2

市場恐慌:納斯達克指數重挫1.71%,黃金創歷史新高

美國股市週二收低,結束了兩天的反彈。投資者選擇採取觀望態度,等待聯邦儲備局即將公佈的貨幣政策決定及川普政府貿易策略的可能影響。

Thomas Frank 06:48 2025-03-19 UTC+2

3月18日美國市場新聞摘要

二月份的數據顯示美國零售銷售增長了0.2%,表明消費者活動強勁。然而,三月份紐約的製造業活動下降,指出了局部經濟的疲弱。

Ekaterina Kiseleva 13:51 2025-03-18 UTC+2

歐元/美元暫停漲勢,因標普500預測惡化——如何尋求平衡?

全球市場目前正在努力尋求主要貨幣對和股票工具的平衡。鑑於近期歐元走低及美元疲軟,這尤其具有挑戰性。

Larisa Kolesnikova 07:52 2025-03-18 UTC+2

全球市場動態:中國、美國和人工智慧驅動新趨勢

美國股市在週一開盤大幅上漲,持續從四週的損失中恢復。週一,主要指數顯示出正面的動能,投資者尋找在較低價格買入的機會。

05:16 2025-03-18 UTC+2

全球市場動態:中國、美國與人工智慧引領新趨勢

美國股市本週初錄得穩健增長,繼續從四週的下跌中恢復。週一,主要指數呈現出積極的走勢,投資者熱衷於利用廉價買入的機會。

Thomas Frank 04:59 2025-03-18 UTC+2

3月17日美國市場新聞摘要

美國市場週五上漲:S&P 500指數上漲2.1%,納斯達克綜合指數上升2.6% 美國股市在本週結束時取得亮眼表現,仿佛最近的動蕩從未發生。標普500指數上漲2.1%,至5638點,而納斯達克指數上漲2.6%,道瓊斯指數則上漲1.7%(674點),從近期的虧損中恢復。

Natalia Andreeva 14:04 2025-03-17 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.