{"id":274463,"date":"2021-06-14T22:32:00","date_gmt":"2021-06-14T19:32:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/oil-kicks-off-the-week-on-a-mixed-note-as-traders-weigh-demand-prospects\/"},"modified":"2021-06-14T22:32:00","modified_gmt":"2021-06-14T19:32:00","slug":"oil-kicks-off-the-week-on-a-mixed-note-as-traders-weigh-demand-prospects","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/oil-kicks-off-the-week-on-a-mixed-note-as-traders-weigh-demand-prospects\/","title":{"rendered":"#\n  Oil kicks off the week on a mixed note as traders weigh demand prospects"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 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-6af39d6aa915c\" 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-6af39d6aa915c\" 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-kicks-off-the-week-on-a-mixed-note-as-traders-weigh-demand-prospects\/#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-kicks-off-the-week-on-a-mixed-note-as-traders-weigh-demand-prospects\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Oil kicks off the week on a mixed note as traders weigh demand prospects<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 id=\"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-0000305092\">\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 futures started the week on a mixed note, with U.S. crude prices down a few pennies, but global benchmark crude up on optimism over a recovery in global demand.<\/p>\n<p> \u201cWith limited exception, crude and product prices have consistently marched higher in 2021, as the prospect of a global demand recovery has overshadowed the potential for new supply to hit the market,\u201d said Robbie Fraser, global research and analytics manager at Schneider Electric.<\/p>\n<div class=\"paywall\">\n       Regarding demand, \u201csome recent support is likely tied to talks around the Iranian nuclear deal, which while ongoing, have failed to deliver a breakthrough that would allow Iran to resume oil exports without the threat of U.S. sanctions,\u201d said Fraser, in a note.\u00a0<\/p>\n<p>Iran\u2019s foreign ministry has \u201coffered a more cautious tone in recent days, in contrast to some more optimistic quotes that had been released in previous weeks,\u201d he said.\u00a0\u201cStill, Iran has stated there is broad agreement around the terms of a renewed deal, even as specific items remain unresolved.\u201d<\/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 July delivery<br \/>\n        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"positive\">+0.07%<\/bg-quote><\/p>\n<p>        CLN21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209725322\/delayed\" class=\"positive\">+0.07%<\/bg-quote><br \/>\n       edged down by 3 cents, or 0.04%, to settle at $70.88 a barrel on the New York Mercantile Exchange, posting a loss for the first time in three sessions. Prices based on the front-month contract had finished Friday at the highest since October 2018.<\/p>\n<p>Global benchmark August Brent crude<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"positive\">+0.10%<\/bg-quote><\/p>\n<p>        BRNQ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705462\/delayed\" class=\"positive\">+0.10%<\/bg-quote><span>,<\/span><br \/>\n       however, gained 17 cents, or 0.2%, to settle at $72.86 a barrel on ICE Futures Europe, the highest finish since April 2019, according to Dow Jones Market Data. <\/p>\n<p><strong>Read:<\/strong> Here\u2019s what sparked the latest talk over $100 oil prices<\/p>\n<p>\u201cGood sentiment on the financial markets and the optimistic demand outlook indicated by leading energy agencies are contributing to the upswing,\u201d said Eugen Weinberg, analyst at Commerzbank, in a note.<\/p>\n<p>The International Energy Agency helped buoy sentiment at the end of last week. It is monthly report on Friday projected demand to rise in 2021 before growing at a faster rate next year, reaching 100.6 million barrels a day by the end of 2022.<\/p>\n<p>\u201cVehicle use is starting to return to pre-pandemic use in the U.S. and Canada, while in the U.K. it already has returned to levels just prior to the pandemic, as less people use public transport and use their own vehicles to move around,\u201d Michael Hewson, chief market analyst at CMC Markets UK, said in a market update. \u201cWhile this is likely to see higher gasoline demand, this should be offset to some extent by lower demand for aviation fuel due to there being less air <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a>.\u201d<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Talk of Iranian sanctions being lifted may well be acting as a bit of a headwind for oil prices, Hewson added. <\/p>\n<p>Discussions resumed on Saturday with European Union representative Alain Matton telling reporters in Vienna: \u201cWe are making progress, but the negotiations are intense and a number of issues (remain), including on how steps are to be implemented,\u201d according to the Associated Press.<\/p>\n<p>Meanwhile, U.S. benchmark stock indexes saw mixed trading Monday as investors prepared for this week\u2019s meeting of Federal Reserve policy makers, which will conclude Wednesday.<\/p>\n<p><strong>Read: <\/strong>What the market wants to hear from Powell about inflation at the coming Fed meeting<\/p>\n<p>Investors will be looking for clarity from policy makers on their views on rising inflation pressures and the timing of any effort to begin reining in the Fed\u2019s bond-buying program.<\/p>\n<p><strong>Also see:<\/strong> How oil soaring to $100 a barrel could be bad for this boom-bust sector and the economy<\/p>\n<p>Back on Nymex, petroleum product prices moved down along with oil. July gasoline<br \/>\n        RBN21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210287794\/delayed\" class=\"negative\">-0.52%<\/bg-quote><br \/>\n       shed 0.7% to $2.17 a gallon and July heating oil<br \/>\n        HON21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210064091\/delayed\" class=\"negative\">-0.41%<\/bg-quote><br \/>\n       lost 0.4% to $2.11 a gallon.<\/p>\n<p>July natural gas<br \/>\n        NGN21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210191235\/delayed\" class=\"positive\">+1.97%<\/bg-quote><br \/>\n       bucked the trend to settle at $3.35 per million British thermal units, up 1.7% to the highest finish since October of last year. <\/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\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"William_Watts\"><\/span>William Watts<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=%7B20C05575-04D4-B545-74A7-C49154F149FD%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Oil kicks off the week on a mixed note as traders weigh demand prospects &#8221; Oil futures started the week on a mixed note, with U.S. crude prices down a few pennies, but global benchmark crude up on optimism over a recovery in global demand. \u201cWith limited exception, crude and product prices have consistently&#8230;<\/p>\n","protected":false},"author":1,"featured_media":274464,"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-274463","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\/274463","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=274463"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/274463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/274464"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=274463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=274463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=274463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}