Economy

Crude oil spikes on news of Libya pipeline blast

Crude oil spikes on news of Libya pipeline blast”

After a quiet overnight session, the price of Brent Crude spiked following news of an explosion at a Libyan crude oil pipeline that feeds the Es Sider sea terminal - home of the largest oil depot in Libya - a source from the Libyan National Army told The Libya Times Tuesday.

A military source said forces had lost contact with a unit located near Marada.

The news of the Libyan blast saw oil prices spike to above $65 a barrel on Tuesday, trading close to its highest mark since mid-2015.

US crude climbed $1.29, or 2.21 percent, to $59.76 a barrel after touching a session high of $59.86, the highest since late June 2015.

"Keep in mind that the field and pipeline are old and it may have issues and it's probably why the market isn't selling off", said Scott Shelton, broker at ICAP in Durham, North Carolina. USA crude was down 7 cents at $58.40.

Читайте также: Bruce Arians not stepping away from Cardinals after season

Trading activity was thin due to the ongoing Christmas holiday in many countries.

The producers have extended the supply cut agreement to cover all of 2018.

That's earlier than seen by OPEC's latest official forecast, which calls for a balanced market by late 2018. Prices hit $65.83 on December 12, the highest since June 2015. Another factor contributing to the increase in price are the voluntary supply cuts by OPEC.

Bakers Hughes oil rig counts, released late Friday and used as a measure of future indications for oil and gas in the United States, stayed relatively static, with natural gas rigs increasing by one to reach 184 and oil rigs remaining at 747.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2021 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог



Like this

loading...
loading...

Latest


26 Декабря 2017
Stock Views And Recommendations: Sirius XM Holdings Inc. (NASDAQ:SIRI)
Ltd. raised its stake in shares of Sirius XM Holdings by 1,526.8% in the fourth quarter. (NASDAQ: SIRI ) or 72.99M shares. The company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters' consensus estimate of $0.04.

26 Декабря 2017
General Motors Co (NYSE:GM) Sentiment Worsens in Q3 2017
The auto manufacturer reported $0.43 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.33 by $0.10. It is negative, as 66 investors sold GM shares while 322 reduced holdings. 16 funds opened positions while 65 raised stakes.

26 Декабря 2017
Passenger tried to bring loaded gun through airport checkpoint, officials say
Guns have to be declared and stored in checked baggage, unloaded and locked in a hard-sided container, among other requirements. Orlando police spokeswoman Michelle Guido told local news outlets the passenger has a valid Florida concealed weapons license.

26 Декабря 2017
Wait, Is the iPhone X Expensive?
Touchscreen maker General Interface Solution Holding Ltd. plunged 8.4 percent Tuesday after slipping slightly Monday. The report adds that Foxconn's main iPhone X manufacturing hub in Zhengzhou, China, stopped recruiting workers.

26 Декабря 2017
Aston Martin to recall over 5000 cars
The company didn't immediately respond to a request for comment outside of normal business hours. Aston Martin has become the latest global automaker to recall its vehicles from the market.

26 Декабря 2017
Sensex, Nifty trade flat; Jet Airways, DLF stocks up
Hero MotoCorp (-0.90%), NTPC (-0.89%), M&M (-0.81%), Coal India (-0.77%) and HUL (-0.74%) were the top losers in today's trade. Sensex was down by over 16 points or 0.05% to 33,924.19 while the wider Nifty was down by over 2 points or 0.02% to 10,490.85.

26 Декабря 2017
Miss America Organization CEO Sam Haskell resigns amid email scandal
The top leadership of the Miss America Organization has resigned , sweeping out officials implicated in the email scandal. Dan Meyers , who had been vice chairman of the board, was named interim chairman.

26 Декабря 2017
Indicator Focus on Shares of USA Value Factor Ishares ETF (VLUE)
When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. Many traders will use a combination of moving averages with different time frames to help review stock trend direction.

26 Декабря 2017
Peak of Flu Season May Be Approaching
This flu season, the CDC is only recommending the injectable flu vaccine, rather than the nasal spray. And it's not just through sneezing and coughing, but even talking and breathing can spread the flu.

26 Декабря 2017
Has $11.81 Million Holdings in Cisco Systems, Inc. (CSCO)
In other news, SVP Karen Walker sold 5,786 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. Frontier Investment Mgmt Co.'s holdings in Cisco Systems were worth $11,814,000 at the end of the most recent quarter.