{"id":222212,"date":"2021-04-08T22:12:00","date_gmt":"2021-04-08T19:12:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/oil-prices-see-mixed-trading-though-oil-demand-concerns-prevail\/"},"modified":"2021-04-08T22:12:00","modified_gmt":"2021-04-08T19:12:00","slug":"oil-prices-see-mixed-trading-though-oil-demand-concerns-prevail","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/oil-prices-see-mixed-trading-though-oil-demand-concerns-prevail\/","title":{"rendered":"#\n  Oil prices see mixed trading, though oil demand concerns prevail"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc02180054\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc02180054\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/oil-prices-see-mixed-trading-though-oil-demand-concerns-prevail\/#Myra_P_Saefong_and\" >Myra P. Saefong and<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/oil-prices-see-mixed-trading-though-oil-demand-concerns-prevail\/#Mark_DeCambre\" >Mark DeCambre<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Oil prices see mixed trading, though oil demand concerns prevail<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div class=\"cx--next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000225085\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Oil prices traded on a mixed note Thursday, with U.S. prices down but the global benchmark moving higher, as traders weighed prospects for energy demand on the back of the rise in global cases of COVID-19.<\/p>\n<p> Some analysts also said the bigger-than-expected weekly increase in U.S. gasoline stocks, which contributed to losses for futures prices of the fuel on Wednesday, was also to blame for the weakness in oil Thursday. <\/p>\n<div class=\"paywall\">\n       The Energy Information Administration on Wednesday reported that gasoline supply was up by 4 million barrels, while distillate stockpiles climbed 1.5 million barrels for the week. IHS Markit had forecast weekly supply increases of 200,000 barrels for gasoline and 500,000 barrels for distillates.<\/p>\n<p>\u201cSeeing US gasoline stocks rising by 4 million barrels last week caused some wows on trading floors as a boost in gasoline demand was expected due to Easter holiday mobility,\u201d wrote Bj\u00f8rnar Tonhaugen, head of oil markets at Rystad Energy, in a daily note. \u00a0<\/p>\n<p>\u201cA huge build in road fuel stocks is not what the market was expecting and concerns over the speed of the\u00a0oil\u00a0demand recovery resurfaced, leaving traders wondering how stable road fuel usage actually is,\u201d the analyst wrote. <\/p>\n<p>West Texas Inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te crude for May delivery<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-0.05%<\/bg-quote><\/p>\n<p>        CLK21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209724703\/delayed\" class=\"negative\">-0.05%<\/bg-quote><br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-0.05%<\/bg-quote><br \/>\n      was off 10 cents, or 0.2%, to trade at $59.67 a barrel on the New York Mercantile Exchange, following a 0.7% gain on Wednesday. <\/p>\n<p>June Brent crude<br \/>\n        BRNM21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705363\/delayed\" class=\"positive\">+0.11%<\/bg-quote><\/p>\n<p>        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"positive\">+0.11%<\/bg-quote><span>,<\/span><br \/>\n      \u00a0the global benchmark, edged up by 12 cents, or 0.2%, to trade at $63.28 a barrel on ICE Futures Europe after the contract rose 0.7% a day ago.<\/p>\n<p>Oil prices ended slightly higher on Wednesday after an initial retreat in values but investors may be rethinking the state of inventories and demand. <\/p>\n<p>Not everyone is sold on the notion that the increase in gasoline supplies bodes ill for overall energy demand because a rise in gasoline stocks could also be linked to increased utilization in oil refineries, experts say. <\/p>\n<p>Prices for May gasoline futures<br \/>\n        RBK21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210287225\/delayed\" class=\"positive\">+0.61%<\/bg-quote><br \/>\n       were up 0.6% at $1.96 a gallon Thursday, after posting a loss of 0.7% in the previous session. May heating oil<br \/>\n        HOK21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210063758\/delayed\" class=\"positive\">+0.18%<\/bg-quote><br \/>\n       tacked on nearly 0.1% to $1.81 a gallon.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Meanwhile, Tonhaugen said that concerns about the efficacy of AstraZenca in helping achieve a greater economic reopening in Europe may also be weighing on energy markets. <\/p>\n<p>Spain and Italy have said they are limiting the use of AstraZeneca\u2019s\u00a0AZN COVID-19 vaccine due to fears of very rare cases of blood clotting issues in adults. On Wednesday, the European Medicines Agency (EMA) said it found a\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ema.europa.eu\/en\/news\/astrazenecas-covid-19-vaccine-ema-finds-possible-link-very-rare-cases-unusual-blood-clots-low-blood\" class=\"icon none\">possible link<\/a>\u00a0between the vaccine and clotting. <\/p>\n<p>The decision to restrict the use of the shot comes after Germany and France took similar measures. The restrictions could make it harder for the European Union to achieve its target of vaccinating\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ec.europa.eu\/info\/live-work-travel-eu\/coronavirus-response\/public-health\/eu-vaccines-strategy_en#:~:text=Speeding%20up%20vaccination%20in%20the%20EU,-On%2019%20January&amp;text=By%20the%20end%20of%20March,of%20the%20entire%20adult%20population.\" class=\"icon none\">70%\u00a0<\/a>of its adult population by the end of the summer, some fear. <\/p>\n<p>\u201cEurope is a prime user of the AstraZeneca vaccine and any delays or pauses in the vaccination campaigns could partly postpone the\u00a0oil\u00a0demand recovery in the continent,\u201d Tonhaugen said. <\/p>\n<p>That follows a decision earlier this month by major oil producers, known as OPEC+, who agreed to begin easing oil production curbs in  May. <\/p>\n<p>That \u201ccontinues to add downside risk,\u201d said Robbie Faster, manager, global research and analytics at Schneider Electric.  \u201cThat risk has also been reinforced amid reports that the U.S. and Iran continue to engage in preliminary negotiations that could eventually allow Iranian exports to return to the global market.\u201d<\/p>\n<p>Also on Nymex Thursday, natural-gas futures traded little changed, with the May contract<br \/>\n        NGK21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210190558\/delayed\" class=\"negative\">-0.04%<\/bg-quote><br \/>\n       up nearly 0.1% at $2.52 per million British thermal units.<\/p>\n<p>The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas rose by 20 billion cubic feet for the week ended April 2. That compares with an average increase of 27 billion cubic feet forecast by analysts polled by S&amp;P Global Platts.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Myra P. Saefong\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Myra_P_Saefong_and\"><\/span>Myra P. Saefong and<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark DeCambre\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_DeCambre\"><\/span>Mark DeCambre<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D36F3D94D3C7%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Oil prices see mixed trading, though oil demand concerns prevail &#8221; Oil prices traded on a mixed note Thursday, with U.S. prices down but the global benchmark moving higher, as traders weighed prospects for energy demand on the back of the rise in global cases of COVID-19. Some analysts also said the bigger-than-expected weekly&#8230;<\/p>\n","protected":false},"author":1,"featured_media":222213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-222212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/222212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=222212"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/222212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/222213"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=222212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=222212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=222212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}