{"id":292847,"date":"2021-07-07T15:01:00","date_gmt":"2021-07-07T12:01:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/futures-movers-oil-prices-stabilize-as-opec-uncertainty-persists\/"},"modified":"2021-07-07T15:01:00","modified_gmt":"2021-07-07T12:01:00","slug":"futures-movers-oil-prices-stabilize-as-opec-uncertainty-persists","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-stabilize-as-opec-uncertainty-persists\/","title":{"rendered":"#Futures Movers: Oil prices stabilize as OPEC uncertainty persists"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a2c0b51d1a97\" 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-6a2c0b51d1a97\" 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\/futures-movers-oil-prices-stabilize-as-opec-uncertainty-persists\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Futures Movers: Oil prices stabilize as OPEC uncertainty persists<\/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\" data-nosnippet>\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-0000328071\">\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<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000328071\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Oil futures rose Wednesday, stabilizing after the previous session\u2019s slide, as investors continued to weigh the implications of a standoff between OPEC members over output.<\/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 August delivery<br \/>\n        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"positive\">+1.98%<\/bg-quote><\/p>\n<p>        CLQ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209725726\/delayed\" class=\"positive\">+1.98%<\/bg-quote><br \/>\n       rose $1.48, or 2%, to $74.85 a barrel on the New York Mercantile Exchange. September Brent crude<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"positive\">+1.89%<\/bg-quote><\/p>\n<p>        BRNU21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705595\/delayed\" class=\"positive\">+1.89%<\/bg-quote><span>,<\/span><br \/>\n       the global benchmark, was up $1.43, or 1.9%, to $75.96 a barrel on ICE Futures Europe.<\/p>\n<div class=\"paywall\">\n       Oil trading has been volatile after talks by the Organization of the Petroleum Exporting Countries and its allies \u2014 a group known as OPEC+ \u2014 collapsed on Monday, derailing a proposal to ease existing output curbs and allow production to rise by 400,000 barrels a day each month from August through December.<\/p>\n<p><strong>Read:<\/strong> What the OPEC standoff means for oil prices and financial markets<\/p>\n<p>Crude oil prices  initially rallied on expectations that production wouldn\u2019t rise even as demand accelerates this year, with WTI hitting a 6 1\/2-year high and Brent trading at its highest since 2018. But markets turned down during Tuesday\u2019s sessions on worries the impasse, which centers on a call by the United Arab Emirates to raise the baseline that determines its output, could lead producers to open the taps and flood the market with crude.<\/p>\n<p>\u201cThe latest developments have certainly clouded the policy outlook for the OPEC+ group. However, leaders in Riyadh and Abu Dhabi are unlikely to let the disagreement escalate to the levels of the price war seen with Russia in April last year,\u201d said Sophie Griffiths, analyst at Oanda, in a note.<\/p>\n<p>But other analysts remain cautious.<\/p>\n<p>\u201cIt is true that Saudi Arabia has raised its official selling prices for Asian customers in August, signaling that it is willing to continue complying with the agreement,\u201d said Eugen Weinberg, commodity analyst at Commerzbank, in a note. \u201cHowever, several members of the alliance would prefer to step up their production as soon as possible \u2014 even at the expense of the others.\u201d<\/p>\n<p>On the bullish side, analysts expect U.S. data to show a seventh straight weekly decline in crude inventories. The American Petroleum Institute is expected to release its weekly tally late Wednesday, while official data from the Energy Information Administration is due Thursday.<\/p>\n<p>Analysts surveyed by S&amp;P Global Platts, on average, look for U.S. crude stocks to show a fall of 6.2 million barrels in the week ended July 2, with demand from refineries expected to outpace production growth.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>August gasoline futures<br \/>\n        RBQ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210287971\/delayed\" class=\"positive\">+1.50%<\/bg-quote><br \/>\n       were up 1.5% at $2.2615 a gallon, while August heating oil<br \/>\n        HOQ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210064444\/delayed\" class=\"positive\">+2.08%<\/bg-quote><br \/>\n       added 2% to $2.148 a gallon.<\/p>\n<p>August natural-gas futures<br \/>\n        NGQ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210192897\/delayed\" class=\"positive\">+0.63%<\/bg-quote><br \/>\n       rose 1.1% to $3.675 per million British thermal units.<\/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\":\"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-B545-7501-87C73267A313%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Futures Movers: Oil prices stabilize as OPEC uncertainty persists&#8221; Oil futures rose Wednesday, stabilizing after the previous session\u2019s slide, as investors continued to weigh the implications of a standoff between OPEC members over output. West Texas Intermediate crude for August delivery CL00, +1.98% CLQ21, +1.98% rose $1.48, or 2%, to $74.85 a barrel on the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":251140,"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-292847","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\/292847","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=292847"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/292847\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/251140"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=292847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=292847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=292847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}