- U.S. inflation will end sharply from October 2014
- Increases fuel conversion and demand recovery costs
- OPEC + stick to a gradual cut
NEW YORK, Oct. 8 (Reuters) – Global power outages rose by about 4% a week on Friday, according to Reuters. Prices to the highest in seven years as large energy consumers struggle to meet demand.
Despite growing global demand for the HIV epidemic, the Organization of Petroleum Exporting Countries (OPEC) and its partner producers (OPEC +) said they would gradually return to production this week.
Meanwhile, the US government has said it is in control of the energy market, but has not immediately announced price reductions, such as the withdrawal of strategic oil reserves, which would further support oil markets. Read more
Brent’s stock price is up 44 cents, or 0.5%, to sit on $ 82.39. Earlier in the week, the three-year high hit a $ 83.47 high.
West Texas Intermediate (WTI) crude rose $ 1.05 or 1.3% to $ 79.35. That was the closest to US standards since October 31, 2014.
The future of US gasoline has been largely closed since Friday, October 2014.
“The basic premise is that one of the strongest stocks will continue to raise these prices,” says John Kilduff, a re-capitalist in New York.
As energy markets intensify in the face of improved oil demand, many fear that the cold winter could further hamper the supply of natural gas. China orders miners in Mongolia to intensify coal production Read more
“As other energy prices, such as natural gas and coal, rise, the risks to the oil market begin to build,” said Christopher Cooplet of the United States.
European gas prices have risen, prompting a rise in oil prices.
Benchmark’s European gas prices were set at $ 200 per barrel of crude oil, according to Reuters calculations, according to Reuters.
“Accelerating gas-to-oil conversion could increase demand for crude oil to generate energy for the coming Northern Hemisphere,” an ANZ Commodity Analyst said in a statement.
ANZ has increased its oil demand forecast for 2021 quarters by 450,000 barrels per day.
Report by Jessica Rennick-All, Scott Disavino and Dimitri Zdandanikov
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