{"id":11797,"date":"2024-09-05T08:46:56","date_gmt":"2024-09-05T08:46:56","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=11797"},"modified":"2024-09-05T08:46:56","modified_gmt":"2024-09-05T08:46:56","slug":"brent-crude-oil-reached-73-dollars-and-12-cents","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/11797\/","title":{"rendered":"Brent crude oil reached 73 dollars and 12 cents"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0 Oil<\/span> prices firmed on Thursday, edging up from multi-month lows on a possible delay to output increases by OPEC+ producers and a decline in U.S. inventories, though the gains were capped by persisting demand concerns.<\/p>\n

Figures<\/span> from the American Petroleum Institute (API) showed U.S. crude oil inventories fell by 7.431 million barrels last week, far exceeding the 1 million barrel draw expected by analysts in a Reuters poll.<\/div>\n
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“<\/span>There is a pause of breath and light reprieve for oil prices this morning,” said PVM analyst John Evans, citing the API report’s findings.<\/div>\n
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Brent<\/span> crude<\/span> for November rose 42 cents, or 0.6%, to $73.12 a barrel by 0810 GMT after touching its lowest since December on Wednesday. U.S. West Texas Intermediate crude for October was up 37 cents, or 0.5%, at $69.57.<\/div>\n
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Further<\/span> support came from discussions between the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known collectively as OPEC+, about delaying output increases due to start in October, sources told Reuters on Wednesday.<\/div>\n
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OPEC<\/span>+ had been ready to proceed with an output increase of 180,000 barrels per day (bpd) in October, part of plans for a gradual unwinding of its most recent cuts of 2.2 million bpd.<\/div>\n
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However<\/span>, continued soft demand in China and the potential end of a dispute halting Libyan oil exports has pushed the group to reconsider.<\/div>\n
Official<\/span> U.S. oil stocks data from the Energy Information Administration (EIA) is due at 1430 GMT.<\/div>\n
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Financial<\/span> markets were also awaiting further U.S. macroeconomic indicators due later on Thursday, including jobs data.<\/div>\n
Updated on