{"id":11786,"date":"2024-09-04T09:44:13","date_gmt":"2024-09-04T09:44:13","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=11786"},"modified":"2024-09-04T09:56:20","modified_gmt":"2024-09-04T09:56:20","slug":"brent-crude-oil-was-73-dollars-and-32-cents","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/11786\/","title":{"rendered":"Brent crude oil was 73 dollars and 32 cents"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>Oil<\/span> prices<\/span> fell<\/span> on<\/span> Wednesday<\/span> ,<\/span> extending<\/span> a<\/span> plunge<\/span> of<\/span> more<\/span> than<\/span> 4<\/span> %<\/span> the<\/span> previous<\/span> day<\/span> and<\/span> hovering<\/span> at<\/span> their<\/span> lowest<\/span> since<\/span> December<\/span> ,<\/span> on<\/span> expectations<\/span> that<\/span> a<\/span> political<\/span> dispute<\/span> halting<\/span> Libyan<\/span> exports<\/span> could<\/span> be<\/span> resolved<\/span> and<\/span> concerns<\/span> over<\/span> sluggish<\/span> global<\/span> demand<\/span> .<\/span><\/p>\n

Brent<\/span> crude<\/span> futures<\/span> for<\/span> November<\/span> fell<\/span> 43<\/span> cents<\/span> ,<\/span> or<\/span> 0.6<\/span> %<\/span> ,<\/span> to<\/span> $<\/span> 73.32<\/span> by<\/span> 0645<\/span> GMT<\/span> ,<\/span> after<\/span> the<\/span> previous<\/span> session<\/span> ‘s<\/span> fall<\/span> of<\/span> 4.9<\/span> %<\/span> .<\/span> U.S.<\/span> West<\/span> Texas<\/span> Intermediate<\/span> crude<\/span> futures<\/span> for<\/span> October<\/span> were<\/span> down<\/span> 49<\/span> cents<\/span> ,<\/span> or<\/span> 0.7<\/span> %<\/span> ,<\/span> at<\/span> $<\/span> 69.85<\/span> ,<\/span> after<\/span> dropping<\/span> 4.4<\/span> %<\/span> on<\/span> Tuesday<\/span> .<\/span><\/p>\n

Both<\/span> contracts<\/span> fell<\/span> to<\/span> their<\/span> lowest<\/span> since<\/span> December<\/span> on<\/span> signs<\/span> of<\/span> a<\/span> deal<\/span> to<\/span> resolve<\/span> the<\/span> political<\/span> dispute<\/span> between<\/span> rival<\/span> factions<\/span> in<\/span> Libya<\/span> that<\/span> cut<\/span> output<\/span> by<\/span> about<\/span> half<\/span> and<\/span> curbed<\/span> exports<\/span> .<\/span><\/p>\n

“<\/span> Selling<\/span> continued<\/span> in<\/span> Asia<\/span> amid<\/span> expectations<\/span> of<\/span> a<\/span> potential<\/span> deal<\/span> to<\/span> resolve<\/span> the<\/span> dispute<\/span> in<\/span> Libya<\/span> ,<\/span> “<\/span> said<\/span> Toshitaka<\/span> Tazawa<\/span> ,<\/span> an<\/span> analyst<\/span> at<\/span> Fujitomi<\/span> Securities<\/span> Co<\/span> Ltd<\/span> .<\/span><\/p>\n

“<\/span> The<\/span> market<\/span> remained<\/span> under<\/span> pressure<\/span> also<\/span> because<\/span> of<\/span> concerns<\/span> over<\/span> sluggish<\/span> fuel<\/span> demand<\/span> following<\/span> weak<\/span> economic<\/span> indicators<\/span> from<\/span> China<\/span> and<\/span> the<\/span> United<\/span> States<\/span> .<\/span> “<\/span><\/p>\n

Libya<\/span> ‘s<\/span> two<\/span> legislative<\/span> bodies<\/span> agreed<\/span> on<\/span> Tuesday<\/span> to<\/span> jointly<\/span> appoint<\/span> a<\/span> central<\/span> bank<\/span> governor<\/span> ,<\/span> potentially<\/span> defusing<\/span> the<\/span> battle<\/span> for<\/span> control<\/span> of<\/span> oil<\/span> revenue<\/span> that<\/span> set<\/span> off<\/span> the<\/span> dispute<\/span> .<\/span><\/p>\n

Libyan<\/span> oil<\/span> exports<\/span> at<\/span> major<\/span> ports<\/span> were<\/span> halted<\/span> on<\/span> Monday<\/span> and<\/span> production<\/span> cut<\/span> nationwide<\/span> .<\/span> Libya<\/span> ‘s<\/span> National<\/span> Oil<\/span> Corp<\/span> (<\/span> NOC<\/span> )<\/span> declared<\/span> force<\/span> majeure<\/span> on<\/span> its<\/span> El<\/span> Feel<\/span> oilfield<\/span> from<\/span> Sept.<\/span> 2<\/span> .<\/span><\/p>\n

“<\/span> Easing<\/span> political<\/span> tension<\/span> in<\/span> Libya<\/span> potentially<\/span> seeing<\/span> some<\/span> supplies<\/span> return<\/span> and<\/span> economic<\/span> weakness<\/span> in<\/span> the<\/span> world<\/span> ‘s<\/span> largest<\/span> oil<\/span> consumers<\/span> ,<\/span> U.S.<\/span> and<\/span> China<\/span> ,<\/span> serve<\/span> as<\/span> a<\/span> confluence<\/span> of<\/span> headwinds<\/span> for<\/span> oil<\/span> prices<\/span> ,<\/span> “<\/span> said<\/span> Yeap<\/span> Jun<\/span> Rong<\/span> ,<\/span> a<\/span> market<\/span> strategist<\/span> at<\/span> IG<\/span> .<\/span><\/p>\n

“<\/span> The<\/span> faster<\/span> contraction<\/span> in<\/span> new<\/span> orders<\/span> and<\/span> production<\/span> ,<\/span> along<\/span> with<\/span> increasing<\/span> prices<\/span> ,<\/span> presented<\/span> in<\/span> the<\/span> U.S.<\/span> manufacturing<\/span> PMI<\/span> data<\/span> seems<\/span> to<\/span> be<\/span> renewing<\/span> growth<\/span> fears<\/span> ,<\/span> which<\/span> does<\/span> not<\/span> offer<\/span> much<\/span> reassurance<\/span> around<\/span> the<\/span> oil<\/span> demand<\/span> outlook<\/span> .<\/span> “<\/span><\/p>\n

Market<\/span> sentiment<\/span> weakened<\/span> after<\/span> Tuesday<\/span> ‘s<\/span> Institute<\/span> for<\/span> Supply<\/span> Management<\/span> data<\/span> showing<\/span> that<\/span> U.S.<\/span> manufacturing<\/span> remained<\/span> subdued<\/span> ,<\/span> despite<\/span> a<\/span> modest<\/span> improvement<\/span> in<\/span> August<\/span> from<\/span> an<\/span> eight<\/span> –<\/span> month<\/span> low<\/span> in<\/span> July<\/span> .<\/span><\/p>\n

In<\/span> China<\/span> ,<\/span> the<\/span> world<\/span> ‘s<\/span> biggest<\/span> importer<\/span> of<\/span> crude<\/span> ,<\/span> recent<\/span> data<\/span> showed<\/span> that<\/span> manufacturing<\/span> activity<\/span> sank<\/span> to<\/span> a<\/span> six<\/span> –<\/span> month<\/span> low<\/span> in<\/span> August<\/span> ,<\/span> when<\/span> growth<\/span> in<\/span> new<\/span> home<\/span> prices<\/span> slowed<\/span> .<\/span><\/p>\n

Weekly<\/span> U.S.<\/span> inventory<\/span> data<\/span> has<\/span> been<\/span> delayed<\/span> by<\/span> Monday<\/span> ‘s<\/span> Labor<\/span> Day<\/span> holiday<\/span> .<\/span> The<\/span> report<\/span> from<\/span> the<\/span> American<\/span> Petroleum<\/span> Institute<\/span> is<\/span> due<\/span> at<\/span> 4<\/span> :<\/span> 30<\/span> p.m.<\/span> EDT<\/span> (<\/span> 2030<\/span> GMT<\/span> )<\/span> on<\/span> Wednesday<\/span> and<\/span> data<\/span> from<\/span> the<\/span> Energy<\/span> Information<\/span> Administration<\/span> will<\/span> be<\/span> published<\/span> at<\/span> 11<\/span> :<\/span> 00<\/span> a.m.<\/span> EDT<\/span> (<\/span> 1500<\/span> GMT<\/span> )<\/span> on<\/span> Thursday<\/span> .<\/span><\/p>\n

U.S.<\/span> crude<\/span> oil<\/span> and<\/span> gasoline<\/span> stockpiles<\/span> were<\/span> expected<\/span> to<\/span> have<\/span> fallen<\/span> last<\/span> week<\/span> ,<\/span> while<\/span> distillate<\/span> inventories<\/span> probably<\/span> rose<\/span> ,<\/span> a<\/span> preliminary<\/span> Reuters<\/span> poll<\/span> showed<\/span> on<\/span> Tuesday<\/span> .<\/span><\/p>\n

Updated on