crude today 30-11-2021

Check out for Prices!

By Srinivas Chowdary Sunkara // petrobazaar // 30th Nov, 2021.

Brent oil futures for Jan delivery inched up 72 cents or 1 pct to close at $73.44 a barrel on London based ICE futures Europe exchange. WTI oil Jan futures rose $1.8 or 2.64 pct to settle at $69.95 a barrel last night. In Shanghai. Crude oil main contract futures prices went down 22.7 Yuan/bbl to 473.6 Yuan/bbl while MCX crude oil front month futures prices climbed Rs.147 or 2.85% to Rs.5308 a barrel yesterday. Brent traded at a premium of $3.49 a barrel over WTI during the session.

The world crude oil price index curves turned up yesterday after Friday&#39s biggest slump since April, 2020. Both the benchmarks turned into negative territory on thin volumes during post-settlement hours. Fears of new Omicron variant of corona virus and its impact on international aviation  as well as domestic business were compounded by lack of liquidity on the day after a U.S public holiday were the fundamental reasons behind the price dive on Friday. On the supply side, OPEC+ postponed all the technical  meetings to gains time to assess new variant impact. Brent Jan contract will expire today. Both the benchmarks are set to close the month in loss. API numbers are due later today followed by EIA confirmations. All eyes are on OPEC+ meet on Dec 2nd. Today, Asian markets opened in green, clawing back some of the previous sessions losses. 

Good day to all.

Disclaimer: Views and opinions expressed here are personal. This commentary is  for  information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com

Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com

Recent Posts