Oil Slides Below $61 With Near-Term Demand Concerns in Focus

Bloomberg2021-03-23

Southeast Asian recovery has hit a plateau; Europe lockdowns May WTI crude futures fall 1.1% after climbing 0.2% Monday Oil declined in Asian trading on concerns about the near-term demand outlook ...

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Comments

bugswana
2021-03-23
bugswana
Sure hope oil prices will bounce back. Given that the economy is going to restart again, demand for oil should increase. Cross fingers!
ytryy
2021-03-23
ytryy
Like and comment. Thanks
Tchua
2021-03-23
Tchua
Time to long
- Tchua:
  Anyone looking to long
Lty1098
2021-03-23
Lty1098
Like n comment pls
- ytryy:
  ?

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Europe lockdowns\nMay WTI crude futures fall 1.1% after climbing 0.2% Monday\n\nOil declined in Asian trading on concerns about the near-term demand outlook ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-22/oil-edges-lower-near-61-with-near-term-demand-concerns-in-focus\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FT_SY_CL","symbol_name":"WTI原油","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2021-03-22/oil-edges-lower-near-61-with-near-term-demand-concerns-in-focus","article_id":"1106522147","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1106522147","pubTimestamp":1616481687,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Southeast Asian recovery has hit a plateau; Europe lockdowns\nMay WTI crude futures fall 1.1% after c","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"油价跌破61美元，近期需求担忧成为焦点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BZmain":0.9,"CLmain":0.9},"content_text":"Southeast Asian recovery has hit a plateau; Europe lockdowns\nMay WTI crude futures fall 1.1% after climbing 0.2% Monday\n\nOil declined in Asian trading on concerns about the near-term demand outlook amid the uneven recovery from the pandemic.\nFutures in New York slipped 1.1% to trade below $61 a barrel after two days of gains. Coronavirus cases are climbing rapidly in India and threatening the economy’s recovery from a rare recession, while in Southeast Asia, demand has hit a plateau and is unlikely to reach pre-virus levels until the end of the year or later. Some European nations are extending or reimposing lockdowns, and in the U.S., New York City’s mayor urged a pause on reopening.\nThe prompt timespread for global benchmark Brent crude, meanwhile, is near the narrowest backwardation in about two months. The bullish structure is rapidly approaching a bearish contango, a signal of oversupply.\n\nWhile oil’s sustained advance this year stalled recently, there is confidence in the longer-term outlook as Covid-19 vaccinations are rolled out worldwide and as the U.S. unleashes significant stimulus. OPEC+ members are continuing to put a floor under prices through a series of output cuts, with the group scheduled to meet next week to determine production policy for May.\n“There is now no chance that OPEC+ adjusts its production cuts lower next week,” said Jeffrey Halley, an analyst at Oanda Asia Pacific “I had expected a pullback to cull the speculators, just not this deep. In the short-term, I am expecting oil to range with a bias to the downside.”\n\n\n\nPRICES\n\n\n\n\nWest Texas Intermediate for May delivery lost 66 cents to $60.90 a barrel on the New York Mercantile Exchange at 2:26 p.m. Singapore time.\nBrent for May settlement fell 1% to $63.95 on the ICE Futures Europe exchange after rising 9 cents in the previous session.\n\n\n\n\nThe prompt timespread for Brent was 8 cents a barrel in backwardation -- where near-dated contracts are more expensive than later-dated ones. That compares with 67 cents at the start of the month.\nU.S. crude stockpiles, meanwhile, probably expanded by 1.2 million barrels last week, according to the median estimate in a Bloomberg survey. If confirmed by government data on Wednesday, it would be a fifth weekly increase, the longest run of gains since May. Inventories have ballooned after the cold snap last month shut several refineries, some of which are still attempting to restart. Industry figures are due later Tuesday.\n\n\n\n\nOTHER OIL-MARKET NEWS:\n\n\n\n\nSaudi Arabia is seeking more help from the U.S. to defend its oil facilities, underscoring the kingdom’s concern about recent missile and drone strikes that it’s linked to arch-rival Iran.\nChina released data that showed it imported no Iranian crude for the first time in months, a sign that oil from the U.S.-sanctioned nation may be masked as supplies from other countries.\nIt hasn’t been this cheap for shale explorers to raise money on the high-yield bond market since oil was at $100 a barrel in 2014, so they’re jumping on the opportunity to refinance debt.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":353679116,"gmtCreate":1616495768935,"gmtModify":1704794836280,"author":{"id":"3573592403377940","authorId":"3573592403377940","authorIdStr":"3573592403377940","name":"bugswana","avatar":"https://static.tigerbbs.com/b6c5d116a179d84a3a55414e2079188b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573592403377940"},"htmlText":"Sure hope oil prices will bounce back. Given that the economy is going to restart again, demand for oil should increase. Cross fingers!","listText":"Sure hope oil prices will bounce back. Given that the economy is going to restart again, demand for oil should increase. Cross fingers!","text":"Sure hope oil prices will bounce back. Given that the economy is going to restart again, demand for oil should increase. Cross fingers!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/353679116","repostId":1106522147,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":353859828,"gmtCreate":1616484323864,"gmtModify":1704794676817,"author":{"id":"3566052363001307","authorId":"3566052363001307","authorIdStr":"3566052363001307","name":"ytryy","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3566052363001307"},"htmlText":"Like and comment. Thanks","listText":"Like and comment. Thanks","text":"Like and comment. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/353859828","repostId":1106522147,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":353825429,"gmtCreate":1616483719961,"gmtModify":1704794671793,"author":{"id":"3561859229387101","authorId":"3561859229387101","authorIdStr":"3561859229387101","name":"Tchua","avatar":"https://static.tigerbbs.com/245ba7d1360ad877e076f09e9d78c378","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3561859229387101"},"htmlText":"Time to long","listText":"Time to long","text":"Time to long","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/353825429","repostId":1106522147,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3861014,"gmtCreate":1616483843568,"gmtModify":1680781392903,"authorId":3561859229387101,"author":{"id":3561859229387101,"authorId":3561859229387101,"name":"Tchua","avatar":"https://static.tigerbbs.com/245ba7d1360ad877e076f09e9d78c378","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":353825429,"type":1,"supId":0,"prevId":0,"content":"Anyone looking to long","text":"Anyone looking to long","html":"Anyone looking to long"}],"langContent":"EN"},{"id":353865315,"gmtCreate":1616482812937,"gmtModify":1704794656709,"author":{"id":"3573201360768736","authorId":"3573201360768736","authorIdStr":"3573201360768736","name":"Lty1098","avatar":"https://static.tigerbbs.com/0123641e5b1e8993162711702dcb0f22","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573201360768736"},"htmlText":"Like n comment&nbsp;pls","listText":"Like n comment&nbsp;pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/353865315","repostId":1106522147,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3861056,"gmtCreate":1616484314807,"gmtModify":1680781392788,"authorId":3566052363001307,"author":{"id":3566052363001307,"authorId":3566052363001307,"name":"ytryy","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":353865315,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":3,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1106522147"}