{"id":502372,"date":"2022-10-20T17:56:00","date_gmt":"2022-10-20T14:56:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/futures-movers-oil-prices-build-on-gains-as-china-reportedly-weighs-easing-quarantine-rules\/"},"modified":"2022-10-20T17:56:00","modified_gmt":"2022-10-20T14:56:00","slug":"futures-movers-oil-prices-build-on-gains-as-china-reportedly-weighs-easing-quarantine-rules","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-build-on-gains-as-china-reportedly-weighs-easing-quarantine-rules\/","title":{"rendered":"#Futures Movers: Oil prices build on gains as China reportedly weighs easing quarantine rules"},"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-6a4ca9ca35370\" 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-6a4ca9ca35370\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-build-on-gains-as-china-reportedly-weighs-easing-quarantine-rules\/#%E2%80%9CFutures_Movers_Oil_prices_build_on_gains_as_China_reportedly_weighs_easing_quarantine_rules%E2%80%9D\" >&#8220;Futures Movers: Oil prices build on gains as China reportedly weighs easing quarantine rules&#8221;<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-build-on-gains-as-china-reportedly-weighs-easing-quarantine-rules\/#Price_action\" >Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-build-on-gains-as-china-reportedly-weighs-easing-quarantine-rules\/#Market_drivers\" >Market drivers<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-build-on-gains-as-china-reportedly-weighs-easing-quarantine-rules\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CFutures_Movers_Oil_prices_build_on_gains_as_China_reportedly_weighs_easing_quarantine_rules%E2%80%9D\"><\/span>&#8220;Futures Movers: Oil prices build on gains as China reportedly weighs easing quarantine rules&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\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 crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001302671\" 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-0001302671\" 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 were building on gains Thursday, finding support after a report China may ease quarantine restrictions on visitors to the country.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Price_action\"><\/span>Price action<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      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 November delivery<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"positive\">+1.81%<\/bg-quote><\/p>\n<p>        CLX22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209727081\/delayed\" class=\"positive\">+1.81%<\/bg-quote><br \/>\n       rose $1.96, or 2.3%, to $87.51 a barrel on the New York Mercantile Exchange. December WTI<br \/>\n        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"positive\">+1.42%<\/bg-quote><\/p>\n<p>        CLZ22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209727389\/delayed\" class=\"positive\">+1.42%<\/bg-quote><span>,<\/span><br \/>\n       the most actively traded contract, was up $1.67, or 2%, at $86.19 a barrel.<\/p>\n<\/li>\n<li>\n      December Brent crude<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"positive\">+1.14%<\/bg-quote><\/p>\n<p>        BRNZ22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705835\/delayed\" class=\"positive\">+1.14%<\/bg-quote><span>,<\/span><br \/>\n       the global benchmark, gained $1.51, or 1.6%, to trade at $93.92 a barrel on ICE Futures Europe.<\/p>\n<\/li>\n<li>\n      Back on Nymex, November gasoline<br \/>\n        RBX22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210289295\/delayed\" class=\"positive\">+1.42%<\/bg-quote><br \/>\n       rose 1.2% to $2.684 a gallon, while December heating oil<br \/>\n        HOZ22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210066117\/delayed\" class=\"negative\">-0.67%<\/bg-quote><br \/>\n       was up 0.2% at $3.568 a gallon.<\/p>\n<\/li>\n<li>\n      November natural gas<br \/>\n        NGX22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210194879\/delayed\" class=\"positive\">+0.60%<\/bg-quote><br \/>\n       was up 0.6% at $5.499 per million British thermal units.<\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"Market_drivers\"><\/span>Market drivers<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> Crude oil was on track for back-to-back gains after bouncing Wednesday as data showed a drop in U.S. crude inventories while President Joe Biden on Wednesday announced the release of a further 15 million barrels of crude from the Strategic Petroleum Reserve, the final tranche of an 180 million barrel release authorized in March.<\/p>\n<div class=\"paywall\">\n       \u201cGiven that this volume is part of the previously announced larger release, the impact on the market is minimal. This is reflected in price action with WTI settling 3.3% higher yesterday,\u201d said Warren Patterson, head of commodities strategy at ING, in a note. \u201cThis latest release will do little to offset the impact of OPEC+ supply cuts.\u201d<\/p>\n<p><strong>Read:<\/strong> Why you can\u2019t count on another SPR oil release to cut gasoline prices at the pump<\/p>\n<p>OPEC+ \u2014 made up of the Organization of the Petroleum Exporting Countries and its Russia-led allies \u2014 agreed earlier this month to cut production by 2 million barrels a day beginning in November. However, the size of the actual reduction is expected to be around half that size since several members were already producing below their quotas.<\/p>\n<p>Bloomberg on Thursday reported that Chinese officials were <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-20\/china-is-debating-a-cut-to-covid-quarantine-for-inbound-travelers?cmpid=BBD102022_MKT&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=221020&amp;utm_campaign=markets\" class=\"icon none\">debating whether to ease quarantine requirements<\/a> for visitors to the country. China currently requires incoming visitors to quarantine for seven days in a hotel room followed by three days at home where they remain subject to monitoring and testing.<\/p>\n<p>An easing of the quarantine rule would be an incremental change but it may signal  the potential for a revival of economic growth. The country\u2019s zero-COVID policy has resulted in massive lockdowns and other restrictions that have served to crimp demand for crude and energy.<\/p>\n<p>\u201cChina had been expected to ramp up oil imports as it agreed to export 113 million barrels of oil products between now and the end of the year; there has, however, been little sign of increased spot purchases by the world\u2019s second largest consumer,\u201d said Harry Altham, an energy analyst at StoneX Group, in a note.<\/p>\n<p>\u201cBy reviving an economy beset by COVID restrictions, such moves could provide a lifeline to China\u2019s struggling airline industry,\u201d he wrote.<\/p>\n<p>The Energy Information Administration on Thursday said U.S. natural gas in storage rose by 111 billion cubic feet in the week ended Oct. 14. Analysts surveyed by the Wall Street Journal, on average, had looked for an injection of 102 billion cubic feet.<\/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\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/william-watts\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/wlwatts\",\"text\":\"@wlwatts\"},{\"type\":\"link\",\"icon\":\"facebook\",\"url\":\"https:\/\/facebook.com\/williamwattsmarkets\",\"text\":\"williamwattsmarkets\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:bwatts@marketwatch.com\",\"text\":\"bwatts@marketwatch.com\"}]}' 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><ufc-follow-author-widget product=\"marketwatch\" author-id=\"205_MW\" author-name=\"William Watts\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Foil-prices-build-on-gains-as-china-reportedly-weighs-easing-quarantine-rules-11666265304%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/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. 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=%7B20C06575-04D4-B545-713E-08F5B58DD5A0%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 build on gains as China reportedly weighs easing quarantine rules&#8221; Oil futures were building on gains Thursday, finding support after a report China may ease quarantine restrictions on visitors to the country. Price action West Texas Intermediate crude for November delivery CL.1, +1.81% CLX22, +1.81% rose $1.96, or 2.3%, to $87.51&#8230;<\/p>\n","protected":false},"author":1,"featured_media":502373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-506063\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-502372","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\/502372","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=502372"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/502373"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=502372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=502372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=502372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}