Oil Hits 7-year Highs as Rally Extends To the 7th Week

By The Al Attiyah Foundation, Qatar

Oil Hits 7-year Highs as Rally Extends To a 7th Week

By The Al Attiyah Foundation, Qatar

Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers. Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel. U.S. West Texas Intermediate crude ended at $2.04, or 2.3%, higher at $92.31 a barrel. Brent ended the week 3.6% higher, while WTI posted a 6.3% rise in their longest rally since October. The market's surge accelerated in the last two days as buyers piled into crude contracts due to expectations that world suppliers will continue to struggle to meet demand. Meanwhile, winter storms bringing icy conditions in the United States, particularly in Texas, also fueled supply fears as the extreme cold could cause production to shut down temporarily, similar to what happened in the state a year ago. Oil markets have also gained support from geopolitical risks as major oil producer Russia has amassed thousands of troops on Ukraine's border and is accusing the United States and its allies of fanning tensions. Last week, OPEC+ agreed to stick to moderate output increases despite pressure from top consumers to raise production more quickly.


Benchmark Crude Oil Prices

 

Asian Prices Fall as Lunar New Year Reduces Trading


Asian spot LNG fell last week, tracking gas prices in Europe, amid muted demand from China as the Lunar New Year holiday reduced trading activity in northeast Asia. The average LNG price for March delivery into northeast Asia fell to $25.00 per metric million British thermal units, down $2.00 or 7.4% from the previous week, industry sources said. However, several Asian buyers have re-emerged to purchase cargoes to replace inventories, and more spot procurement activity in the coming weeks, analysts said. Meanwhile, Europe continues to be reliant on LNG amid a low Russian gas supply. The arbitrage between Asia and Europe - or cargo diversion from one market to another - has been shifting back and forth, and there is a risk that European LNG imports could slow in case of any increase in Asian demand and prices. However, the absence of de-escalation signs in the Russia-Ukraine conflict continues to support the market. In the U.S., natural gas futures dropped almost 7% on Friday during a period of record volatility on forecasts for less cold and lower heating demand over the next two weeks than previously expected. Front-month gas futures fell 31 cents to settle at $4.57 per mmBtu.


Benchmark Gas Prices


IndraStra Global is now available on
Apple NewsGoogle News, Flipboard, Feedburner, and Telegram

COPYRIGHT: This article is published under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. https://creativecommons.org/licenses/by-nc-nd/4.0/

REPUBLISH: Republish our articles online or in print for free if you follow these guidelines. https://www.indrastra.com/p/republish-us.html
Name

-51,1,3D Technology,2,5G,8,Abkhazia,2,Academics,9,Accidents,19,Activism,1,ADB,12,ADIZ,1,Adults,1,Advertising,30,Advisory,2,Aerial Reconnaissance,11,Aerial Warfare,34,Aerospace,4,Afghanistan,83,Africa,108,Agile Methodology,2,Agriculture,15,Air Crash,9,Air Defence Identification Zone,1,Air Defense,5,Air Force,26,Air Pollution,1,Airbus,4,Aircraft Carriers,5,Aircraft Systems,1,Al Nusra,1,Al Qaida,4,Al Shabab,1,Alaska,1,ALBA,1,Albania,2,Algeria,3,American History,4,AmritaJash,10,Antarctic,1,Anthropology,7,Anti Narcotics,12,Anti Tank,1,Anti-Corruption,3,Anti-dumping,1,Anti-Piracy,2,Anti-Submarine,1,Anti-Terrorism Legislation,1,Antitrust,1,APEC,1,Apple,2,Applied Sciences,2,AQAP,2,Arab League,3,Architecture,1,Arctic,6,Argentina,7,Armenia,26,Army,3,Art,1,Artificial Intelligence,62,Arunachal Pradesh,1,ASEAN,10,Asia,64,Asia Pacific,22,Assassination,2,Asset Management,1,Astrophysics,2,ATGM,1,Atmospheric Science,1,Atomic.Atom,1,Augmented Reality,7,Australia,43,Austria,1,Automation,13,Automotive,124,Autonomous Flight,2,Autonomous Vehicle,2,Aviation,58,AWACS,1,Awards,17,Azerbaijan,14,Azeri,1,B2B,1,Bahrain,9,Balance of Payments,1,Balance of Trade,3,Balkan,10,Baltic,3,Baluchistan,8,Bangladesh,27,Banking,48,Bankruptcy,1,Basel,1,Bashar Al Asad,1,Bay of Bengal,5,BBC,1,Beijing,1,Belarus,3,Belgium,1,Belt Road Initiative,3,Beto O'Rourke,1,BFSI,1,Bhutan,9,Big Data,30,Big Tech,1,Bilateral Cooperation,13,BIMSTEC,1,Biography,1,Biotechnology,2,BISA,1,Bitcoin,7,Black Lives Matter,1,Black Money,2,Black Sea,1,Blockchain,31,Blood Diamonds,1,Bloomberg,1,Boeing,20,Boko Haram,7,Bolivia,6,Bomb,2,Bond Market,1,Book,10,Book Review,17,Border Conflicts,7,Border Control and Surveillance,5,Bosnia,1,Brand Management,14,Brazil,99,Brexit,22,BRI,5,BRICS,16,British,3,Broadcasting,16,Brunei,2,Brussels,1,Buddhism,1,Budget,3,Build Back Better,1,Bulgaria,1,Burma,2,Business & Economy,1004,C-UAS,1,California,5,Call for Proposals,1,Cambodia,6,Cameroon,1,Canada,46,Canadian Security Intelligence Service (CSIS),1,Carbon Economy,8,CAREC,1,Caribbean,9,CARICOM,1,Caspian Sea,2,Catalan,3,Caucasus,9,CBRN,1,Central African Republic,1,Central Asia,74,Central Asian,3,Central Eastern Europe,46,Certification,1,Chad,2,Chanakya,1,Charity,2,Chatbots,1,Chemicals,7,Child Labor,1,Children,4,Chile,10,China,455,Christianity,1,CIA,1,CIS,5,Citizenship,2,Civil Engineering,1,Civil Liberties,4,Civil Rights,2,Civil Society,4,Civilization,1,Clean Energy,4,Climate,62,Climate Change,15,Clinical Research,3,Clinton,1,Cloud Computing,40,Coal,4,Coast Guard,3,Cognitive Computing,12,Cold War,4,Colombia,15,Commodities,3,Communication,8,Communism,3,Compliance,1,Computers,40,Conferences,1,Conflict,80,Conflict Diamonds,1,Conflict Resolution,48,Conflict Resources,1,Congo,1,Construction,4,Consumer Behavior,4,Consumer Price Index,1,COP26,4,Coronavirus,106,Corporate Communication,1,Corporate Governance,4,Corporate Social Responsibility,4,Corruption,4,Costa Rica,2,Counter Intelligence,13,Counter Terrorism,80,COVID,5,COVID Vaccine,5,CPEC,8,CPG,3,Credit,1,Credit Score,1,Crimea,4,CRM,1,Croatia,2,Crypto Currency,12,Cryptography,1,CSTO,1,Cuba,6,Culture,4,Currency,6,Customer Relationship Management,1,Cyber Attack,6,Cyber Crime,2,Cyber Security & Warfare,104,Cybernetics,5,Cyberwarfare,16,Cyclone,1,Cyprus,5,Czech Republic,3,DACA,1,DARPA,3,Data,9,Data Analytics,35,Data Science,2,Database,2,Daughter.Leslee,1,Davos,1,DEA,1,DeBeers,1,Debt,11,Decision Support System,5,Defense,9,Defense Deals,5,Deforestation,2,Democracy,20,Democrats,2,Demonetization,6,Denmark. F-35,1,Denuclearization,1,Diamonds,1,Digital,38,Digital Economy,8,Digital Marketing,2,Digital Transformation,10,Diplomacy,10,Disaster Management,4,Disinformation,1,Diversity & Inclusion,1,Djibouti,2,Documentary,2,Doklam,1,Dokolam,1,Dominica,2,Donald Trump,42,Donetsk,2,Dossier,2,Drones,10,E-Government,2,E-International Relations,1,Earning Reports,2,Earth Science,1,Earthquake,5,East Africa,1,East China Sea,9,eBook,1,ECB,1,eCommerce,11,Econometrics,1,Economic Justice,1,Economics,39,Economy,76,ECOWAS,2,Ecuador,3,Edge Computing,2,Education,61,Egypt,24,Elections,29,Electric Vehicle,11,Electricity,5,Electronics,7,Emerging Markets,1,Employment,12,Energy,309,Energy Policy,28,Energy Politics,24,Engineering,23,England,2,Enterprise Software Solutions,8,Entrepreneurship,15,Environment,46,ePayments,12,Epidemic,6,ESA,1,Ethiopia,3,Eulogy,3,Eurasia,3,Euro,6,Europe,6,European Union,219,EuroZone,5,Exclusive,2,Exhibitions,2,Explosives,1,Export Import,3,F-35,5,Facebook,7,Fake News,3,Fallen,1,FARC,2,Farnborough. United Kingdom,2,FATF,1,FDI,5,Featured,1150,Fidel Castro,1,Fiji,1,Finance,17,Financial Markets,49,Financial Statement,2,Finland,5,Fintech,13,Fiscal Policy,12,Fishery,3,Food Security,22,Forces,1,Forecasting,1,Foreign Policy,12,Forex,2,France,26,Free Market,1,Free Syrian Army,4,Freedom,3,Freedom of Speech,1,FTC,1,Fujairah,97,Fund Management,1,Funding,22,Future,1,G20,6,G24,1,G7,3,Gaddafi,1,Gambia,2,Gaming,1,Garissa Attack,1,Gas Price,16,GATT,1,Gaza,2,GCC,11,GDP,9,GDPR,1,Geneal Management,1,General Management,1,Geo Politics,103,Geography,1,Geoint,14,Geopolitics,5,Georgia,11,Georgian,1,geospatial,8,Geothermal,2,Germany,60,Ghana,3,Gibratar,1,Gig economy,1,Global Trade,88,Global Warming,1,Global Water Crisis,10,Globalization,2,Gold,2,Google,13,Gorkhaland,1,Government,125,GPS,1,Greater Asia,126,Greece,13,Green Bonds,1,Greenland,1,Gross Domestic Product,1,GST,1,Gujarat,6,Gun Control,4,Hacking,4,Haiti,2,Hasan,1,Health,7,Healthcare,71,Heatwave,1,Helicopter,10,Heliport,1,Hezbollah,3,High Altitude Warfare,1,High Speed Railway System,1,Hillary 2016,1,Hillary Clinton,1,Hinduism,2,Hindutva,4,History,10,Home Security,1,Honduras,2,Hong Kong,7,Horn of Africa,5,Housing,11,Houthi,11,Howitzer,1,Human Development,28,Human Resource Management,5,Human Rights,4,Humanitarian,3,Hungary,3,Hunger,3,Hydrocarbon,3,Hydrogen,2,IAEA,2,ICBM,1,Iceland,1,ICO,1,Identification,2,IDF,1,Imaging,2,IMF,68,Immigration,17,Impeachment,1,Imran Khan,1,Independent Media,72,India,536,India's,1,Indian Air Force,18,Indian Army,5,Indian Nationalism,1,Indian Navy,24,Indian Ocean,16,Indices,1,Indo-Pacific,3,Indonesia,17,IndraStra,1,Industrial Accidents,3,Industrial Automation,2,Industrial Safety,4,Inflation,6,Infographic,1,Information Leaks,1,Infrastructure,3,Innovations,22,Insider Trading,1,Insurance,3,Intellectual Property,3,Intelligence,5,Intelligence Analysis,8,Interest Rate,3,International Business,13,International Law,11,International Relations,7,Internet,52,Internet of Things,34,Interview,8,Intra-Government,5,Investigative Journalism,3,Investment,32,Investor Relations,1,IPO,4,Iran,188,Iraq,54,IRGC,1,Iron & Steel,1,ISAF,1,ISIL,9,ISIS,33,Islam,12,Islamic Banking,1,Islamic State,86,Israel,119,IT ITeS,131,Italy,10,Jabhat al-Nusra,1,Jamaica,3,Japan,61,JASDF,1,Jihad,1,Joe Biden,3,Joint Strike Fighter,4,Jordan,7,Journalism,6,Judicial,4,Justice System,3,Kanchin,1,Kashmir,8,Kazakhstan,22,Kenya,5,Kiev,1,Kindle,700,Knowledge Management,3,Kosovo,2,Kurdistan,8,Kurds,10,Kuwait,7,Kyrgyzstan,9,Labor Laws,10,Labor Market,4,Land Reforms,2,Land Warfare,21,Languages,1,Laos,1,Laser Defense Systems,1,Latin America,79,Law,5,Leadership,3,Lebanon,9,Legal,9,LGBTQ,1,Liberalism,1,Library Science,1,Libya,13,Littoral Warfare,2,Livelihood,3,Loans,8,Lockdown,1,Lone Wolf Attacks,2,Lugansk,2,Macedonia,1,Machine Learning,7,Madagascar,1,Mahmoud,1,Main Battle Tank,3,Malaysia,10,Maldives,8,Mali,7,Malware,2,Management Consulting,6,Manpower,1,Manto,1,Manufacturing,14,Marijuana,1,Marine Engineering,3,Maritime,39,Market Research,2,Marketing,38,Mars,2,Martech,9,Mass Media,29,Mass Shooting,1,Material Science,2,Mauritania,1,MDGs,1,Mechatronics,2,Media War,1,Mediterranean,12,MENA,6,Mental Health,4,Mercosur,2,Mergers and Acquisitions,15,Meta,1,Metadata,2,Metals,1,Mexico,10,Micro-finance,4,Microsoft,11,Migration,19,Mike Pence,1,Military,99,Military Exercise,9,Military-Industrial Complex,1,Mining,15,Missile Launching Facilities,5,Missile Systems,51,Mobile Apps,3,Mobile Communications,10,Mobility,4,Modi,7,Moldova,1,Monaco,1,Monetary Policy,5,Money Market,2,Mongolia,8,Monkeypox,1,Monsoon,1,Montreux Convention,1,Moon,4,Morocco,1,Morsi,1,Mortgage,3,Moscow,2,Motivation,1,Mozambique,1,Mubarak,1,Multilateralism,2,Mumbai,1,Muslim Brotherhood,2,Myanmar,25,NAFTA,3,NAM,2,Nanotechnology,4,NASA,13,National Security,5,Nationalism,2,NATO,30,Natural Disasters,10,Natural Gas,29,Naval Base,5,Naval Engineering,19,Naval Intelligence,2,Naval Postgraduate School,2,Naval Warfare,44,Navigation,2,Navy,21,NBC Warfare,2,NDC,1,Negotiations,2,Nepal,12,Neurosciences,6,New Delhi,4,New Normal,1,New York,5,New Zealand,5,News,1055,Newspaper,1,NFT,1,NGO,1,Nicaragua,1,Niger,3,Nigeria,10,Nirbhaya,1,Non Aligned Movement,1,Non Government Organization,4,Nonproliferation,2,North Africa,22,North America,41,North Korea,48,Norway,2,NSA,1,NSG,2,Nuclear,38,Nuclear Agreement,30,Nuclear Doctrine,1,Nuclear Security,44,Obama,3,ObamaCare,2,OBOR,15,Ocean Engineering,1,Oceania,2,OECD,4,OFID,5,Oil & Gas,346,Oil Gas,6,Oil Price,56,Olympics,2,Oman,25,Omicron,1,Oncology,1,Online Education,5,Online Reputation Management,1,OPEC,122,Open Access,1,Open Journal Systems,1,Open Letter,1,Open Source,4,Operation Unified Protector,1,Operational Research,4,Opinion,611,Pacific,5,Pakistan,159,Pakistan Air Force,3,Pakistan Army,1,Pakistan Navy,3,Palestine,21,Palm Oil,1,Pandemic,84,Papal,1,Paper,3,Papers,110,Papua New Guinea,1,Paracels,1,Partition,1,Partnership,1,Passport,1,Patents,2,PATRIOT Act,1,Peace Deal,5,Peacekeeping Mission,1,Pension,1,People Management,1,Persian Gulf,19,Peru,5,Petrochemicals,1,Petroleum,19,Pharmaceuticals,13,Philippines,11,Philosophy,2,Photos,3,Physics,1,Pipelines,5,PLAN,3,Plastic Industry,2,Poland,7,Polar,1,Policing,1,Policy,7,Policy Brief,6,Political Studies,1,Politics,36,Polynesia,3,Population,3,Portugal,1,Poverty,5,Power Transmission,6,President APJ Abdul Kalam,2,Presidential Election,30,Press Release,158,Prison System,1,Privacy,17,Private Equity,1,Private Military Contractors,1,Programming,1,Project Management,4,Propaganda,5,Protests,11,Psychology,3,Public Policy,55,Public Relations,1,Public Safety,7,Publishing,6,Putin,4,Q&A,1,Qatar,101,QC/QA,1,Qods Force,1,Quantum Computing,3,Quantum Physics,4,Quarter Results,2,Racial Justice,2,RADAR,1,Rahul Guhathakurta,4,Railway,7,Raj,1,Ranking,4,Rape,1,RCEP,2,Real Estate,1,Recall,4,Recession,2,Red Sea,2,Referendum,5,Reforms,17,Refugee,23,Regional,4,Regulations,1,Rehabilitation,1,Religion & Spirituality,9,Renewable,13,Reports,37,Repository,1,Republicans,3,Rescue Operation,1,Research,4,Research and Development,20,Retail,36,Revenue Management,1,Risk Management,4,Robotics,8,Rohingya,5,Romania,2,Royal Canadian Air Force,1,Rupee,1,Russia,268,Russian Navy,5,Saab,1,Saadat,1,SAARC,6,Safety,1,SAFTA,1,SAM,2,Samoa,1,Sanctions,3,SAR,1,SAT,1,Satellite,12,Saudi Arabia,122,Scandinavia,6,Science & Technology,335,SCO,5,Scotland,6,Scud Missile,1,Sea Lanes of Communications,4,SEBI,1,Securities,1,Security,6,Semiconductor,3,Senate,4,Senegal,1,SEO,3,Serbia,4,Seychelles,1,SEZ,1,Shale Gas,4,Shanghai,1,Sharjah,12,Shia,6,Shinzo Abe,1,Shipping,5,Shutdown,1,Siachen,1,Sierra Leone,1,Signal Intelligence,1,Sikkim,4,Silicon Valley,1,Silk Route,6,Simulations,2,Sinai,1,Singapore,13,Situational Awareness,16,Smart Cities,7,Social Media Intelligence,40,Social Policy,39,Social Science,1,Socialism,1,Soft Power,1,Software,7,Solar Energy,11,Somalia,5,South Africa,18,South America,45,South Asia,405,South China Sea,31,South East Asia,61,South Korea,42,South Sudan,4,Sovereign Wealth Funds,1,Soviet,2,Soviet Union,7,Space,40,Space Station,2,Spain,8,Special Forces,1,Sports,2,Sports Diplomacy,1,Spratlys,1,Sri Lanka,22,Stamps,1,Startups,43,State of the Union,1,STEM,1,Stephen Harper,1,Stock Markets,18,Storm,2,Strategy Games,5,Sub-Sahara,3,Submarine,13,Sudan,5,Sunni,6,Super computing,1,Supply Chain Management,37,Surveillance,8,Survey,5,Sustainable Development,16,Swami Vivekananda,1,Sweden,3,Switzerland,3,Syria,111,Taiwan,20,Tajikistan,11,Taliban,17,Tamar Gas Fields,1,Tamil,1,Tanzania,4,Tariff,4,Taxation,23,Tech Fest,1,Technology,13,Tel-Aviv,1,Telecom,22,Telematics,1,Territorial Disputes,1,Terrorism,74,Testing,2,Texas,3,Thailand,7,The Middle East,606,Think Tank,288,Tibet,2,TikTok,1,Tobacco,1,Tonga,1,Total Quality Management,2,Town Planning,2,TPP,2,Trade Agreements,13,Trade War,9,Trademarks,1,Trainging and Development,1,Transcaucasus,16,Transcript,4,Transpacific,2,Transportation,39,Travel and Tourism,6,Tsar,1,Tunisia,7,Turkey,73,Turkmenistan,9,U.S. Air Force,3,U.S. Dollar,2,UAE,132,UAV,21,UCAV,1,Udwains,1,Uganda,1,Ukraine,93,Ukraine War,7,Ummah,1,UNCLOS,6,Unemployment,1,UNESCO,1,UNHCR,1,UNIDO,2,United Kingdom,69,United Nations,27,United States,654,University and Colleges,4,Uranium,2,Urban Planning,10,US Army,8,US Army Aviation,1,US Congress,1,US FDA,1,US Navy,15,US Postal Service,1,US Space Force,2,USA,16,USAF,19,UUV,1,Uyghur,3,Uzbekistan,12,Valuation,1,Vatican,1,Vedant,1,Venezuela,18,Venture Capital,3,Victim,1,Videogames,1,Vietnam,18,Virtual Reality,7,Vision 2030,1,VPN,1,Wahhabism,3,War,1,War Games,1,Warfare,1,Water,16,Water Politics,6,Weapons,10,Wearable,2,Weather,2,Webinar,1,WEF,2,Welfare,1,West,2,West Africa,19,West Bengal,2,Western Sahara,2,Whitepaper,2,WHO,3,Wikileaks,1,Wikipedia,1,Wildfire,1,Wildlife,2,Wind Energy,1,Windows,1,Wireless Security,1,Wisconsin,1,Women,10,Women's Right,10,Workshop,1,World Bank,27,World Economy,24,World Peace,10,World War I,1,World War II,3,WTO,6,Wyoming,1,Xi Jinping,9,Xinjiang,1,Yemen,26,Zbigniew Brzezinski,1,Zimbabwe,2,
ltr
item
IndraStra Global: Oil Hits 7-year Highs as Rally Extends To the 7th Week
Oil Hits 7-year Highs as Rally Extends To the 7th Week
By The Al Attiyah Foundation, Qatar
https://blogger.googleusercontent.com/img/a/AVvXsEi2zRGrLAKC7ZEkOnzrCjxteqI6-7Vd2yaW2RB6XfyIbfIOkyl1XvfuHgY0-R1k0zFg6zWTZAzlbwTGznRDQCvxxq8E09Ml3aR2US2mbtMcES2i-DEPWBqWIZGvhAV_j5kXuAMgNtPbune8w0cpxAkBBQVwmDaUXSiWoj_-TZZ0kbsYjDVdEw0IPk-U=w640-h346
https://blogger.googleusercontent.com/img/a/AVvXsEi2zRGrLAKC7ZEkOnzrCjxteqI6-7Vd2yaW2RB6XfyIbfIOkyl1XvfuHgY0-R1k0zFg6zWTZAzlbwTGznRDQCvxxq8E09Ml3aR2US2mbtMcES2i-DEPWBqWIZGvhAV_j5kXuAMgNtPbune8w0cpxAkBBQVwmDaUXSiWoj_-TZZ0kbsYjDVdEw0IPk-U=s72-w640-c-h346
IndraStra Global
https://www.indrastra.com/2022/02/oil-hits-7-year-highs-as-rally-extends.html
https://www.indrastra.com/
https://www.indrastra.com/
https://www.indrastra.com/2022/02/oil-hits-7-year-highs-as-rally-extends.html
true
1461303524738926686
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content