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2021-07-09

Direction will be up

Oil Heads for Worst Week Since May as OPEC+ Feuds, Delta Spreads

Oil headed for the biggest weekly loss since May as a dispute between Saudi Arabia and the United Ar

Oil Heads for Worst Week Since May as OPEC+ Feuds, Delta Spreads

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A stronger dollar and investors backtracking onreflation betshave also weighed on the outlook for crude.</p>\n<p><img src=\"https://static.tigerbbs.com/753d1b008afcf25197d34f2bd61f2da3\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p>\n<p>The drop for WTI over the week came despite official data on Thursday that showed another fall in U.S. crude stockpiles, as well as record fuel demand. Nationwide oil holdings have shrunk to the lowest since February 2020 as activity picks up with the rollout of vaccines to combat the pandemic.</p>\n<p>After an 11% gain last month, July has been more challenging for oil, driven by uncertainties for both supply and demand. While the dispute at the Organization of Petroleum Exporting Countries may prompt the cartel and its allies to leave output steady in August, there’s also scope for members adding barrels unilaterally. At the same time, reopenings in the U.S. and Europe are aiding energy consumption, but rising infections from the delta strain pose a risk.</p>\n<p>Sponsored ContentWhy Stakeholder Capitalism Is Becoming More Relevant In JapanYokogawa</p>\n<p>“What we are seeing in the oil market is in tandem with the overall softening of global risk sentiment,” said Howie Lee, an economist at Oversea-Chinese Banking Corp., adding that he’s sticking to a bullish view on crude. “OPEC+ may or may not come back to the table but the possibility of a full-out price war, that we saw last year, is low.”</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <th>PRICES:</th>\n  </tr>\n  <tr>\n   <td>\n    <ul>\n     <li>WTI for August delivery climbed 0.3% at $73.18 a barrel on the New York Mercantile Exchange at 7:16 a.m. in London.</li>\n     <li>Brent for September settlement rose 0.3% to $74.31 a barrel on the ICE Futures Europe exchange.</li>\n    </ul></td>\n  </tr>\n </tbody>\n</table>\n<p>OPEC+ members are stalled over the question of how to increase supply in August and subsequent months. So far, the UAE hasblocked the agreementin a bid to raise its own production quota after investing in new capacity.</p>\n<p>The market’s pricing patterns still suggest tightness. Brent’s prompt timespread was 84 cents a barrel in backwardation, with near-term prices above those further out. That compares with 47 cents a month earlier. Year-to-date, the global oil benchmark has rallied 43%.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Heads for Worst Week Since May as OPEC+ Feuds, Delta Spreads</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Heads for Worst Week Since May as OPEC+ Feuds, Delta Spreads\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 15:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-08/oil-extends-gain-as-slump-in-stockpiles-shows-robust-u-s-demand><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Oil headed for the biggest weekly loss since May as a dispute between Saudi Arabia and the United Arab Emirates clouded the outlook for supply just as the spread of the delta virus variant sapped risk...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-08/oil-extends-gain-as-slump-in-stockpiles-shows-robust-u-s-demand\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-08/oil-extends-gain-as-slump-in-stockpiles-shows-robust-u-s-demand","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127143001","content_text":"Oil headed for the biggest weekly loss since May as a dispute between Saudi Arabia and the United Arab Emirates clouded the outlook for supply just as the spread of the delta virus variant sapped risk appetite.\nWest Texas Intermediate, which swung around $73 a barrel, has sunk 2.6% this week, snapping a run of six consecutive weekly gains that had lifted prices to the highest level since 2014. A stronger dollar and investors backtracking onreflation betshave also weighed on the outlook for crude.\n\nThe drop for WTI over the week came despite official data on Thursday that showed another fall in U.S. crude stockpiles, as well as record fuel demand. Nationwide oil holdings have shrunk to the lowest since February 2020 as activity picks up with the rollout of vaccines to combat the pandemic.\nAfter an 11% gain last month, July has been more challenging for oil, driven by uncertainties for both supply and demand. While the dispute at the Organization of Petroleum Exporting Countries may prompt the cartel and its allies to leave output steady in August, there’s also scope for members adding barrels unilaterally. At the same time, reopenings in the U.S. and Europe are aiding energy consumption, but rising infections from the delta strain pose a risk.\nSponsored ContentWhy Stakeholder Capitalism Is Becoming More Relevant In JapanYokogawa\n“What we are seeing in the oil market is in tandem with the overall softening of global risk sentiment,” said Howie Lee, an economist at Oversea-Chinese Banking Corp., adding that he’s sticking to a bullish view on crude. “OPEC+ may or may not come back to the table but the possibility of a full-out price war, that we saw last year, is low.”\n\n\n\n\nPRICES:\n\n\n\n\nWTI for August delivery climbed 0.3% at $73.18 a barrel on the New York Mercantile Exchange at 7:16 a.m. in London.\nBrent for September settlement rose 0.3% to $74.31 a barrel on the ICE Futures Europe exchange.\n\n\n\n\nOPEC+ members are stalled over the question of how to increase supply in August and subsequent months. So far, the UAE hasblocked the agreementin a bid to raise its own production quota after investing in new capacity.\nThe market’s pricing patterns still suggest tightness. Brent’s prompt timespread was 84 cents a barrel in backwardation, with near-term prices above those further out. That compares with 47 cents a month earlier. Year-to-date, the global oil benchmark has rallied 43%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":17,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}