{"id":335401,"date":"2021-09-06T10:39:00","date_gmt":"2021-09-06T07:39:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/futures-movers-crude-prices-fall-after-saudi-arabia-cuts-asian-prices\/"},"modified":"2021-09-06T10:39:00","modified_gmt":"2021-09-06T07:39:00","slug":"futures-movers-crude-prices-fall-after-saudi-arabia-cuts-asian-prices","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/futures-movers-crude-prices-fall-after-saudi-arabia-cuts-asian-prices\/","title":{"rendered":"#Futures Movers: Crude prices fall after Saudi Arabia cuts Asian prices"},"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-6a3ca686e69dd\" 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-6a3ca686e69dd\" 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-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-crude-prices-fall-after-saudi-arabia-cuts-asian-prices\/#Oil_remains_weak_after_disappointment_over_US_jobs_data\" >Oil remains weak after disappointment over U.S. jobs data<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-crude-prices-fall-after-saudi-arabia-cuts-asian-prices\/#Barbara_Kollmeyer\" >Barbara Kollmeyer<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Futures Movers: Crude prices fall after Saudi Arabia cuts Asian prices<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Oil_remains_weak_after_disappointment_over_US_jobs_data\"><\/span>\n  Oil remains weak after disappointment over U.S. jobs data<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\" role=\"region\" aria-label=\"article body\">\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-0000398520\" role=\"document\">\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-0000398520\" 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 prices came under renewed pressure on Monday, after Saudi Arabia cut prices for its Asian customers and demand worries lingered following last week\u2019s weaker-than-expected U.S. jobs data. <\/p>\n<p> In electronic trading, 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 October delivery<br \/>\n        CLV21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209726735\/delayed\" class=\"negative\">-1.14%<\/bg-quote><\/p>\n<p>        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"negative\">-1.14%<\/bg-quote><br \/>\n       fell 82 cents, or 1.2%, to $68.47 a barrel, after closing down 1% to $69.29 a barrel on Friday. WTI prices rose 0.8% for the week. U.S. markets will be closed on Monday in observance of the Labor Day holiday.  <\/p>\n<div class=\"paywall\">\n       Global benchmark Brent crude<br \/>\n        BRNX21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705757\/delayed\" class=\"negative\">-1.12%<\/bg-quote><\/p>\n<p>        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"negative\">-1.12%<\/bg-quote><br \/>\n       fell 83 cents, or 1.1%, to $71.76 a barrel. Brent declined 0.6% to $72.61 a barrel on Friday, but was up 1.3% for the week.<\/p>\n<p>State oil company Saudi Aramco has cut its October official selling prices (OSP) for all  grades delivering to Asia, while keeping prices unchanged for the U.S. and Europe. Arab Light crude for delivery to Asia was slashed to a premium of $1.70 per barrel from $3 in September, according to a company document. The price cuts were the first in four months for the region.  <\/p>\n<p>The Asian price cuts were bigger than expected, according to Jeffrey Halley, senior market analyst at OANDA. \u201cGiven that OPEC+ is continuing its plan to raise production monthly, despite weak data from China and the U.S. raising slowdown fears, and Saudi Arabia looking for market share in the region,\u00a0oil\u00a0is likely to remain under pressure,\u201d said Halley.<\/p>\n<p>He said if Brent falls through its 100-day moving average (DMA) at $71.15 a barrel, the market could retest $70.50 and $70.00 a barrel, with things getting \u201cugly below $70.00 a barrel.\u201d  WTI has already moved through its 100-DMA support at $68.60 on Monday, with $67 a barrel under threat, added Halley. <\/p>\n<p>Last Wednesday, the Organization of the Petroleum Exporting Countries and its allies stuck to a plan to gradually increase production by 400,000 barrels a day per month from August. Analysts at Capital Markets have predicted that the decision could lead to a surplus in global supplies early 2022, and help drag Brent prices down 15% by the end of next year.<\/p>\n<p>Friday\u2019s drop in oil prices followed a smaller-than-expected August climb in U.S. payrolls, which some are worried could crimp demand for crude. Still, a slow recovery for refiners in the hurricane hit Gulf of Mexico, left prices higher on the week. On Friday, Baker Hughes<br \/>\n        BKR,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205323712\/composite\" class=\"negative\">-0.81%<\/bg-quote><br \/>\n       reported the biggest weekly drop in U.S. oil-drilling rigs for the year thus far, as producers struggle to come back online. <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Barbara Kollmeyer\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/barbara-kollmeyer\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/bkollmeyer\",\"text\":\"@bkollmeyer\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:bkollmeyer@marketwatch.com\",\"text\":\"bkollmeyer@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\" aria-label=\"links to  author page\"><span class=\"ez-toc-section\" id=\"Barbara_Kollmeyer\"><\/span>Barbara Kollmeyer<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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In electronic trading, West Texas intermediate crude&#8230;<\/p>\n","protected":false},"author":1,"featured_media":335402,"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-335401","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\/335401","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=335401"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/335401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/335402"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=335401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=335401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=335401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}