{"id":11423,"date":"2024-07-26T10:34:49","date_gmt":"2024-07-26T10:34:49","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=11423"},"modified":"2024-07-26T10:34:49","modified_gmt":"2024-07-26T10:34:49","slug":"brent-crude-oil-reached-82-dollars-and-36-cents","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/11423\/","title":{"rendered":"Brent crude oil reached 82 dollars and 36 cents"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Oil prices were little changed on Friday but on track for a third consecutive weekly decline, pressured by muted demand in China and expectations of a Gaza ceasefire deal that could ease Middle East tensions and accompanying supply concerns.<\/p>\n

Brent crude futures for September dipped 1 cent to $82.36 a barrel by 0744 GMT. U.S. West Texas Intermediate crude for September fell 6 cents to $78.22.<\/p>\n

The benchmarks have lost about 5% in the past three weeks. Brent is trading marginally lower this week while WTI is down more than 2%.<\/p>\n

TotalEnergies Q2 earnings fall 6% on weaker demand<\/p>\n

Chinese data this week showed the country’s apparent oil demand fell 8.1% to 13.66 million barrels per day (bpd) in June, prompting concerns over consumption, ANZ Research analysts said.<\/p>\n

“The weakness is likely driven by gasoline and diesel, as rising new energy and autonomous driving vehicles become more popular,” ANZ said.<\/p>\n

In the Middle East, hopes of a ceasefire in Gaza have been gaining momentum. The leaders of Australia, New Zealand and Canada called for an immediate ceasefire in a joint statement on Friday.<\/p>\n

U.S. Vice President Kamala Harris, meanwhile, has pressed Israeli Prime Minister Benjamin Netanyahu to help efforts at reaching a ceasefire deal, striking a tougher tone than President Joe Biden.<\/p>\n

A ceasefire has been the subject of negotiations for months, but U.S. officials believe the parties are closer than ever to an agreement for a six-week ceasefire in exchange for the release by Hamas of women, sick, elderly and wounded hostages.<\/p>\n

Oil price declines were capped, however, by threats to production from Canadian wildfires, a large U.S. crude stocks draw and continued hopes of a September cut to U.S. interest rates after strong economic data, said PVM oil analyst Tamas Varga.<\/p>\n

Updated on