Page 42 - Dated Brent News Today

Oil markets remain bullish despite retreating from Mondays spike, with geopolitical risk still very much front and center for analysts

Oil fell after Russia said some troops are starting to return to their permanent bases, easing geopolitical tensions that previously rallied prices.

European end-users are looking toward WTI Midland to fill their light sweet crude requirements despite the backwardated market structure amid limited North Sea crude availability, traders said. “Europe has been paying strong numbers to pull the barrels over,” one trader said, adding that bids for prompt barrels have been above $4/b premiums to March Dated ...

Oil importers are racing to assess the risk of purchasing Russian supplies as tensions over Ukraine enter a potentially decisive week.

The oil market has “only a small cushion” due to dwindling spare capacity and shrinking stocks, the International Energy Agency said Feb. 11, cautioning that the supply shortfall could deepen if OPEC+ continues to struggle to raise output. “If the persistent gap between OPEC+ output and its target levels continues, supply tensions will rise, increasing ...

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Global benchmark Brent for April settlement jumped to $96.54 a barrel while WTI for March delivery rose to $95.50.

U.S. oil is set to be added to the world's most important crude benchmark.

US President Joe Biden ordered all US citizens to leave Ukraine Feb. 11 on warnings a Russian invasion could begin at any time, pushing crude price benchmarks closer to $100/b. Benchmark Dated Brent crude was assessed by S&P Global Platts at $97.835/b, up 41 cents, while WTI MEH was assessed up $3.22 at $94.50/b. Top ...

The differentials of Abu Dhabi’s flagship Murban crude to the S&P Global Platts Dubai benchmark have risen sharply as similar arbitrage grades such as WTI Midland and Forties turn increasingly expensive, various sources said. The price of light, sour Murban crude has climbed steeply this month with the differential to Platts Dubai pegged at $5.90/b ...