Friday, 29 January 2021
Oil set for slow recovery as vaccines rolled out: Reuters poll | Reuters
Oil set for slow recovery as vaccines rolled out: Reuters poll | Reuters
Oil prices will hover around current levels for much of the year before a recovery gains traction into end-2021 as vaccines help demand gradually emerge from the depths of the coronavirus pandemic, a Reuters poll showed on Friday.
The survey of 50 participants forecast Brent crude would average $54.47 per barrel this year, a jump from last month’s $50.67 forecast. Brent has averaged around $54 so far in January.
Oil prices will hover around current levels for much of the year before a recovery gains traction into end-2021 as vaccines help demand gradually emerge from the depths of the coronavirus pandemic, a Reuters poll showed on Friday.
The survey of 50 participants forecast Brent crude would average $54.47 per barrel this year, a jump from last month’s $50.67 forecast. Brent has averaged around $54 so far in January.
Oil prices rangebound as supply cuts offset virus worries | Reuters
Oil prices rangebound as supply cuts offset virus worries | Reuters
Oil prices edged up on Friday but traded in a tight range as demand concerns caused by new coronavirus variants and slow vaccine rollouts offset a cut in Saudi Arabian oil supply and falling U.S. oil inventories.
Brent crude futures for March rose 24 cents, or 0.4%, to $55.77 a barrel by 1126 GMT.
The Brent March contract expires on Friday. The more active April contract was up 26 cents, or 0.5%, at $55.36.
U.S. West Texas Intermediate (WTI) crude futures rose 3 cents, or 0.1%, to $52.37.
A Reuters poll showed that oil prices will hover around current levels for much of 2021 before a recovery gains traction towards the end of the year.
Oil prices edged up on Friday but traded in a tight range as demand concerns caused by new coronavirus variants and slow vaccine rollouts offset a cut in Saudi Arabian oil supply and falling U.S. oil inventories.
Brent crude futures for March rose 24 cents, or 0.4%, to $55.77 a barrel by 1126 GMT.
The Brent March contract expires on Friday. The more active April contract was up 26 cents, or 0.5%, at $55.36.
U.S. West Texas Intermediate (WTI) crude futures rose 3 cents, or 0.1%, to $52.37.
A Reuters poll showed that oil prices will hover around current levels for much of 2021 before a recovery gains traction towards the end of the year.
RDIF says completes joint investment of 7.85% in AliExpress Russia alongside partners | Reuters
RDIF says completes joint investment of 7.85% in AliExpress Russia alongside partners | Reuters
The Russian Direct Investment Fund (RDIF) on Friday said it had completed a joint investment to acquire 7.85% of AliExpress Russia, alongside the UAE’s Mubadala Investment Company and other Middle East sovereign wealth funds.
AliExpress Russia is an e-commerce venture between Chinese online shopping giant Alibaba and Russian partners.
The acquisition of shares was completed on Jan. 28, the RDIF said in a statement.
The Russian Direct Investment Fund (RDIF) on Friday said it had completed a joint investment to acquire 7.85% of AliExpress Russia, alongside the UAE’s Mubadala Investment Company and other Middle East sovereign wealth funds.
AliExpress Russia is an e-commerce venture between Chinese online shopping giant Alibaba and Russian partners.
The acquisition of shares was completed on Jan. 28, the RDIF said in a statement.
Oil steady as supply cuts offset demand worries on stalled vaccine rollouts | Reuters
Oil steady as supply cuts offset demand worries on stalled vaccine rollouts | Reuters
Oil prices were slightly lower in subdued trade on Friday, sticking to ranges seen over the past three weeks, as investors looked for signs of changing supply and demand fundamentals.
A cut in Saudi Arabia’s oil supply and lower U.S. oil stocks helped offset price pressures from fuel demand, which is slowing due to stalled vaccine rollouts and contagious new coronavirus strains.
“We’re waiting for the next shoe to drop in the oil market. We really don’t have much to move us around,” said Michael McCarthy, chief strategist at CMC Markets.
Brent crude futures for March slipped 2 cents to $55.51 a barrel at 0743 GMT, standing broadly flat on the day after falling 0.5% in the previous session.
The Brent March contract expires on Friday. The more active April contract was 3 cents, or 0.1%, lower at $55.17.
Oil prices were slightly lower in subdued trade on Friday, sticking to ranges seen over the past three weeks, as investors looked for signs of changing supply and demand fundamentals.
A cut in Saudi Arabia’s oil supply and lower U.S. oil stocks helped offset price pressures from fuel demand, which is slowing due to stalled vaccine rollouts and contagious new coronavirus strains.
“We’re waiting for the next shoe to drop in the oil market. We really don’t have much to move us around,” said Michael McCarthy, chief strategist at CMC Markets.
Brent crude futures for March slipped 2 cents to $55.51 a barrel at 0743 GMT, standing broadly flat on the day after falling 0.5% in the previous session.
The Brent March contract expires on Friday. The more active April contract was 3 cents, or 0.1%, lower at $55.17.
U.S. West Texas Intermediate (WTI) crude futures fell 23 cents to $52.10 a barrel, after easing 1% on Thursday.