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Markets - Energy - 2021-04-09
Oil prices dip on mixed supply and demand outlook
Energy

Oil prices dip on mixed supply and demand outlook

  • Brent crude futures for June fell 32 cents, or 0.32%, to $62.88 a barrel.
  • Both contracts are on track for a 2%-3% drop this week but still far from a low of $60.47 hit two weeks ago. Exerting downward pressure is the decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, to increase supplies by 2 million barrels per day between May and July.
Published 09 Apr, 2021 07:35pm
US natgas futures rise to one-week high on cooler forecasts
Energy

US natgas futures rise to one-week high on cooler forecasts

  • Traders also noted that mild weather this week will likely cause utilities to boost injections into storage by so much that the total amount of gas in inventory will rise above the five-year (2016-2020) average for the first time since the February freeze.
  • Front-month gas futures rose 1.9 cents, or 0.8%, to $2.541 per million British thermal units.
Published 09 Apr, 2021 06:56pm
Uzbekistan to launch gas-to-liquids plant within months
Energy

Uzbekistan to launch gas-to-liquids plant within months

  • The $3.6 billion plant, originally expected to be launched in 2020, will allow the Central Asian nation to use its large natural gas reserve to produce more fuels such as diesel which it currently imports due to declining crude oil output and insufficient refinery capacity.
  • "The construction and installation phases are now complete, with finishing and testing works about to commence."
Published 09 Apr, 2021 05:52pm
Oil prices dip on mixed supply and demand outlook
Energy

Oil prices dip on mixed supply and demand outlook

  • "If a fulsome framework can be crafted in the coming weeks, significant quantities of Iranian oil will likely hit the market in H2 2021," RBC Capital analyst Helima Croft said in a note this week.
Published 09 Apr, 2021 03:43pm
SAPM visits Ogra head office
Energy

SAPM visits Ogra head office

ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Petroleum Tabish Gauhar visited the Oil and Gas...
Published 09 Apr, 2021 04:51am
Asia gasoline crack drops
Energy

Asia gasoline crack drops

SINGAPORE: Asia’s gasoline crack extended losses on Thursday after data showed an increase in gasoline stockpiles...
Published 09 Apr, 2021 04:51am