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Oil climbs $1 per barrel on strong demand, tight supply

By Arathy Somasekhar HOUSTON (Reuters) -Oil rose $1 per barrel on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its...
Oil climbs $1 per barrel on strong demand, tight supply © Reuters. Models of oil barrels and a pump jack are displayed in front of a rising stock graph and "$100" in this illustration taken February 24, 2022. REUTERS/Dado Ruvic/Illustration


By Arathy Somasekhar

HOUSTON (Reuters) -Oil rose $1 per barrel on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine.

Brent crude rose $1.18 , or 1%, to $115.31 a barrel by 11:12 a.m. ET (1512 GMT). The U.S. West Texas Intermediate (WTI) crude contract for July, which expires on Tuesday, rose $1.95, or 1.8%, to $111.51. The more active August contract was up $2.00 at $109.99.

Both benchmarks posted a weekly loss last week. For WTI it was the first weekly loss in eight weeks, for Brent the first in five.

"You have some people jumping in here to buy the bottom or what they hope is the bottom of the market," said Robert Yawger, director of energy futures at Mizuho in New York.

Prices drew support when Exxon Mobil (NYSE:XOM) Chief Executive Darren Woods predicted three to five years of fairly tight oil markets.

Vitol's head Russell Hardy flagged under-investment and a decline in production capacity for crude oil and a tight refining situation.

The 50-day simple moving average of U.S. front month futures touched its highest since 2008, and Brent's touched its highest since 2013.

On the demand side, UBS analyst Giovanni Staunovo said that despite concerns over economic growth, data continues to show solid oil demand.

"We expect oil demand to improve further, benefiting from the reopening of China, summer travel in the northern hemisphere and the weather getting warmer in the Middle East. With supply growth lagging demand growth over the coming months, we continue to expect higher oil prices," he said.

On Monday, U.S. President Joe Biden said a decision on whether to pause a federal gasoline tax could come this week. The United States is also in talks with Canada and other allies to further restrict Moscow's energy revenue by imposing a price cap on Russian oil, Treasury Secretary Janet Yellen said on Monday.

The market has been supported by supply anxiety after sanctions on oil shipments from Russia, the world's second-largest oil exporter, and worries Russian output could fall due to sanctions on equipment needed for production.

European Union leaders aim to maintain pressure on Russia at their summit this week by committing to further work on sanctions, a draft document showed.

"Supply concerns are unlikely to subside unless there is a resolution to the Russia-Ukraine war, or unless we see a sharp rise in supply from either the U.S. or OPEC," said Madhavi Mehta, commodity research analyst at Kotak Securities.

Prospects of successful negotiation of a nuclear deal with Iran and a lifting of U.S. sanctions were also receding.

U.S. petroleum inventory data is delayed this week because of Monday's public holiday, with industry data due on Wednesday at 4:30 p.m. and government data scheduled for Thursday at 11 a.m. [EIA/S]

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27-06-2022 21:10:34 (UTC+7)

EUR/USD

1.0577

+0.0023 (+0.22%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/USD

1.0577

+0.0023 (+0.22%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

GBP/USD

1.2282

+0.0019 (+0.16%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

USD/JPY

135.18

0.01 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.6932

-0.0016 (-0.23%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

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USD/CAD

1.2907

+0.0014 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (4)

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Indicators:

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EUR/JPY

142.98

+0.32 (+0.22%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (6)

EUR/CHF

1.0138

+0.0029 (+0.29%)

Summary

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Indicators:

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Sell (9)

Gold Futures

1,828.25

-2.05 (-0.11%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (8)

Silver Futures

21.310

+0.151 (+0.71%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

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Sell (9)

Copper Futures

3.7563

+0.0118 (+0.32%)

Summary

↑ Sell

Moving Avg:

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Indicators:

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Crude Oil WTI Futures

107.28

-0.34 (-0.32%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (7)

Sell (3)

Brent Oil Futures

109.00

-0.10 (-0.09%)

Summary

Neutral

Moving Avg:

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Natural Gas Futures

6.193

-0.088 (-1.40%)

Summary

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US Coffee C Futures

221.15

-2.10 (-0.94%)

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↑ Sell

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Euro Stoxx 50

3,532.45

-0.72 (-0.02%)

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Moving Avg:

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Indicators:

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S&P 500

3,902.30

-9.44 (-0.24%)

Summary

Sell

Moving Avg:

Buy (4)

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Indicators:

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DAX

13,159.31

+41.18 (+0.31%)

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↑ Sell

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FTSE 100

7,239.58

+30.77 (+0.43%)

Summary

Buy

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Sell (3)

Hang Seng

22,229.52

+510.46 (+2.35%)

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↑ Sell

Moving Avg:

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Sell (11)

Indicators:

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US Small Cap 2000

1,762.80

+0.34 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

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Sell (5)

IBEX 35

8,200.41

-43.69 (-0.53%)

Summary

Neutral

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (3)

Sell (2)

BASF SE NA O.N.

42.672

+0.457 (+1.08%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

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Sell (2)

Bayer AG NA

59.10

+1.31 (+2.27%)

Summary

Sell

Moving Avg:

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Allianz SE VNA O.N.

180.66

-0.54 (-0.30%)

Summary

↑ Sell

Moving Avg:

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Sell (10)

Indicators:

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Sell (8)

Adidas AG

172.04

+1.68 (+0.99%)

Summary

Neutral

Moving Avg:

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Indicators:

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Sell (2)

Deutsche Lufthansa AG

5.979

+0.013 (+0.22%)

Summary

↑ Buy

Moving Avg:

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Sell (4)

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Siemens AG Class N

103.84

+1.22 (+1.19%)

Summary

Sell

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Indicators:

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Deutsche Bank AG

8.770

-0.149 (-1.67%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (10)

 EUR/USD1.0577↑ Sell
 GBP/USD1.2282Sell
 USD/JPY135.18↑ Buy
 AUD/USD0.6932Sell
 USD/CAD1.2907↑ Sell
 EUR/JPY142.98↑ Sell
 EUR/CHF1.0138↑ Sell
 Gold1,828.25↑ Sell
 Silver21.310↑ Sell
 Copper3.7563↑ Sell
 Crude Oil WTI107.28Neutral
 Brent Oil109.00Neutral
 Natural Gas6.193↑ Buy
 US Coffee C221.15↑ Sell
 Euro Stoxx 503,532.45↑ Sell
 S&P 5003,902.30Sell
 DAX13,159.31↑ Sell
 FTSE 1007,239.58Buy
 Hang Seng22,229.52↑ Sell
 Small Cap 20001,762.80Neutral
 IBEX 358,200.41Neutral
 BASF42.672↑ Buy
 Bayer59.10Sell
 Allianz180.66↑ Sell
 Adidas172.04Neutral
 Lufthansa5.979↑ Buy
 Siemens AG103.84Sell
 Deutsche Bank AG8.770↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,775/ 6,845
(15/ 5) # 1,667
SJC HCM6,790/ 6,860
(5/ -5) # 1,683
SJC Hanoi6,790/ 6,862
(5/ -5) # 1,685
SJC Danang6,790/ 6,862
(5/ -5) # 1,685
SJC Nhatrang6,790/ 6,862
(5/ -5) # 1,685
SJC Cantho6,790/ 6,862
(5/ -5) # 1,685
Cập nhật 27-06-2022 21:10:36
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ↀ Giá vàng thế giới
$1,827.53-3.43-0.19%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V33.47034.130
RON 95-III32.87033.520
E5 RON 92-II31.30031.920
DO 0.05S30.01030.610
DO 0,001S-V30.81031.420
Dầu hỏa 2-K28.78029.350
ↂ Giá dầu thô thế giới
WTI$106.27-0.83-0.79%
Brent$109.04-0.99-0.92%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.080,0023.390,00
EUR23.932,6125.273,13
GBP27.815,2929.001,83
JPY167,64177,48
KRW15,5718,97
Cập nhật lúc 18:53:21 27/06/2022
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