{"id":89801,"date":"2020-10-15T15:48:00","date_gmt":"2020-10-15T12:48:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/u-s-oil-benchmark-falls-below-40-a-barrel-as-new-coronavirus-lockdowns-weigh\/"},"modified":"2020-10-15T15:48:00","modified_gmt":"2020-10-15T12:48:00","slug":"u-s-oil-benchmark-falls-below-40-a-barrel-as-new-coronavirus-lockdowns-weigh","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/u-s-oil-benchmark-falls-below-40-a-barrel-as-new-coronavirus-lockdowns-weigh\/","title":{"rendered":"#\n  U.S. oil benchmark falls below $40 a barrel as new coronavirus lockdowns weigh"},"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-6a40f99f076d1\" 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-6a40f99f076d1\" 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\/u-s-oil-benchmark-falls-below-40-a-barrel-as-new-coronavirus-lockdowns-weigh\/#Storage_data_is_on_tap_Thursday\" >Storage data is on tap Thursday.<\/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\/u-s-oil-benchmark-falls-below-40-a-barrel-as-new-coronavirus-lockdowns-weigh\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  U.S. oil benchmark falls below $40 a barrel as new coronavirus lockdowns weigh<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 id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000035222\">\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=\"inline\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          inline\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:63.98437500000001%;\" data-mobile-ratio=\"63.98437500000001%\" data-layout-ratio=\"63.98437500000001%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-241658?width=140&amp;size=1.5628815628815629 140w,\nhttps:\/\/images.mktw.net\/im-241658?width=540&amp;size=1.5628815628815629 540w,\nhttps:\/\/images.mktw.net\/im-241658?width=620&amp;size=1.5628815628815629 620w,\nhttps:\/\/images.mktw.net\/im-241658?width=700&amp;size=1.5628815628815629 700w,\nhttps:\/\/images.mktw.net\/im-241658?width=860&amp;size=1.5628815628815629 860w,\nhttps:\/\/images.mktw.net\/im-241658?width=1260&amp;size=1.5628815628815629 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-241658?width=620&amp;size=1.5628815628815629\" data-enlarge=\"https:\/\/images.mktw.net\/im-241658?width=1260&amp;size=1.5628815628815629\" alt=\"\" title=\"Storage data is on tap Thursday.\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\">\n<h4 class=\"wsj-article-caption-content\"><span class=\"ez-toc-section\" id=\"Storage_data_is_on_tap_Thursday\"><\/span>Storage data is on tap Thursday.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>      <span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            Johannes Eisele\/Agence France-Presse\/Getty Images<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>       Oil futures fell Thursday, with the U.S. benchmark dropping back below $40 a barrel as rising COVID-19 infections result in renewed restrictions on movement in several European countries and the number of cases in the U.S. continued to increase.<\/p>\n<div class=\"paywall\">\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=\"negative\">-3.46%<\/bg-quote><br \/>\n       fell $1.50, or 3.7%, to $39.54 a barrel on the New York Mercantile Exchange. The global benchmark, December Brent crude<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"negative\">-3.27%<\/bg-quote><br \/>\n       dropped $1.51, or 3.5%, to $41.81 a barrel on ICE Futures Europe.<\/p>\n<p> Households in London will be banned from mixing indoors with other households beginning Saturday, joining a number of European cities that have tightened restrictions in an effort to contain a resurgence of the spread of COVID-19. Germany has put new limits on gatherings, while nighttime curfews are being implemented in nine French cities.<\/p>\n<p>\u201cThis is still an environment that\u2019s very unfavorable for\u00a0oil\u00a0prices, and with increasing restrictions being imposed across Europe and probably following shortly after across the pond, the demand picture is not looking great,\u201d said Craig Erlam, senior market analyst at Oanda, in a note.<\/p>\n<p>\u201cPerhaps I\u2019m missing something but I struggle to see\u00a0oil\u00a0managing to hold on at these levels unless a stimulus package in the U.S. is somehow struck ahead of the election,\u201d he said. \u201cEven then, the risks remain tilted to the downside medium term, barring another OPEC+ intervention.\u201d<\/p>\n<p>Oil bulls found little help from data that showed a fall in U.S. crude inventories last week. The American Petroleum Institute, an industry trade group, reported late Wednesday that U.S. crude supplies dropped 5.4 million barrels last week, while gasoline inventories fell 1.5 million barrels and distillate stocks declined 3.9 million barrels, according to sources. API saw crude stocks at the Nymex delivery hub in Cushing, Okla., rise by 2.2 million barrels, sources said.<\/p>\n<p>More closely followed storage data from the Energy Information Administration is due Wednesday morning. Analysts surveyed by S&amp;P Global Platts forecast crude inventories to show a decline of 2.3 million barrels, while gasoline stocks are expected to show a drop of 1.8 million barrels and distillates are forecast to drop 2.5 million barrels.<\/p>\n<p>Oil was buoyed Wednesday after the official Saudi Press Agency said Saudi Arabia\u2019s Crown Prince Mohammed bin Salman and Russian President Vladimir Putin, in a phone call, \u201cagreed on the importance of all oil-producing countries to continue cooperating and abiding by OPEC+ agreement to achieve these goals for the benefit of both producers and consumers.\u201d<\/p>\n<p>OPEC Secretary-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> Mohammad Barkindo on Thursday echoed that message, saying that OPEC+ would move to ensure oil prices don\u2019t fall sharply when it meets late next month, <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/us-opec-oil\/opec-will-ensure-oil-prices-do-not-plunge-again-says-opec-chief-idUSKBN2701DN\" class=\"icon none\">Reuters reported<\/a>.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Barkindo acknowledged a slower-than-expected rebound in oil demand. <\/p>\n<p>\u201cWe have to be realistic that this recovery is not picking up pace at the rate we expected earlier in the year,\u201d he said, according to the report. \u201cDemand itself is still looking anemic.\u201d<\/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>\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 noreferrer\">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 noreferrer\">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=%7B21004575-02D4-D4B5-4572-D899673F0AE9%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# U.S. oil benchmark falls below $40 a barrel as new coronavirus lockdowns weigh &#8221; Storage data is on tap Thursday. Johannes Eisele\/Agence France-Presse\/Getty Images Oil futures fell Thursday, with the U.S. benchmark dropping back below $40 a barrel as rising COVID-19 infections result in renewed restrictions on movement in several European countries and the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":83793,"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-89801","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\/89801","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=89801"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/89801\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/83793"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=89801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=89801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=89801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}