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Oil rises for a second day as U.S. supply concerns dominate

By Naveen Thukral and Florence Tan SINGAPORE (Reuters) -Oil prices rose for a second session on Monday as concerns over U.S. output following damage from Hurricane Ida supported...
Oil rises for a second day as U.S. supply concerns dominate © Reuters. FILE PHOTO: A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson

By Naveen Thukral and Florence Tan

SINGAPORE (Reuters) -Oil prices rose for a second session on Monday as concerns over U.S. output following damage from Hurricane Ida supported the market, along with expectations for higher demand.

Brent crude rose 33 cents, or 0.5% to $73.25 a barrel, and U.S. West Texas Intermediate (WTI) crude also added 32 cents, or 0.5%, to $70.04 at 0436 GMT. Both markets were at their highest since Sept. 3 earlier in the session.

About three-quarters of the offshore oil production in the U.S. Gulf of Mexico, or about 1.4 million barrels per day, has remained halted since late August, roughly equal to what OPEC member Nigeria produces.

"To compound matters, more oil refineries in Louisiana have resumed operations, raising demand for crude oil," ANZ analysts said in a note.

U.S. refiners are coming back faster than oil production from the impact of Hurricane Ida, a reverse of past storm recoveries. Most of the nine Louisiana refineries impacted by the storm have restarted or were restarting on Friday.

Royal Dutch Shell (LON:RDSa) Plc, the largest oil producer in the U.S. Gulf, on Thursday cancelled some export cargoes because of damage to offshore facilities from Hurricane Ida, signalling energy losses would continue for weeks.

However, the number of rigs in operation in the United States grew in the latest week, energy service provider Baker Hughes said, indicating production may rise in coming weeks.

Beyond the impact of Ida, market attention will focus this week on potential revisions to the oil demand outlook from the Organization of the Petroleum Operating Countries (OPEC) and the International Energy Agency (IEA) as coronavirus cases continued to rise. OPEC will likely revise its 2022 forecast lower on Monday, two people familiar with the matter said.

"It looks like oil prices may continue to drift in a consolidation range for now, $70-$75 as we mentioned previously," said Howie Lee, an economist at Singapore's OCBC bank.

"Markets still need clarity on the virus impacts beyond the very near term and until we get that, it seems like most assets, including oil, may continue to drift sideways."

Money managers raised their net long U.S. crude futures and options positions in the week to Sept. 7, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. [nAQN04MM2I]

Supply risks remain from China's planned release of oil from strategic reserves while the hope of fresh talks on a wider nuclear deal between Iran and the West was raised after the U.N. atomic watchdog reached an agreement with Iran on Sunday about the overdue servicing of monitoring equipment to keep it running.

China said on Monday it will announce details of planned crude oil sales from strategic reserves in due course.

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27-09-2021 20:00:25 (UTC+7)

EUR/USD

1.1705

-0.0009 (-0.08%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (3)

EUR/USD

1.1705

-0.0009 (-0.08%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (3)

GBP/USD

1.3705

+0.0023 (+0.17%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (1)

Sell (9)

USD/JPY

110.88

+0.15 (+0.14%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

AUD/USD

0.7264

+0.0006 (+0.08%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (6)

USD/CAD

1.2662

+0.0010 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

EUR/JPY

129.78

+0.08 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (1)

EUR/CHF

1.0850

+0.0027 (+0.25%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (6)

Gold Futures

1,753.75

+2.05 (+0.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

Silver Futures

22.648

+0.223 (+0.99%)

Summary

Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (4)

Copper Futures

4.2730

-0.0125 (-0.29%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (4)

Sell (2)

Crude Oil WTI Futures

75.31

+1.33 (+1.80%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (10)

Brent Oil Futures

78.54

+1.31 (+1.70%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (11)

Natural Gas Futures

5.516

+0.316 (+6.08%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

US Coffee C Futures

194.05

-0.30 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

Euro Stoxx 50

4,162.45

+3.94 (+0.09%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

S&P 500

4,455.48

+6.50 (+0.15%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

DAX

15,560.65

+28.90 (+0.19%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

FTSE 100

7,046.75

-4.73 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Hang Seng

24,208.78

+16.62 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,253.88

-5.16 (-0.23%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (11)

IBEX 35

8,981.50

+108.40 (+1.22%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (1)

Sell (8)

BASF SE NA O.N.

64.435

+0.735 (+1.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Bayer AG NA

47.20

+0.72 (+1.55%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

Allianz SE VNA O.N.

195.17

+2.83 (+1.47%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Adidas AG

278.82

-2.75 (-0.98%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (3)

Deutsche Lufthansa AG

6.461

+0.228 (+3.66%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (7)

Siemens AG Class N

146.48

-1.63 (-1.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Deutsche Bank AG

10.970

+0.135 (+1.25%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (10)

 EUR/USD1.1705Neutral
 GBP/USD1.3705Neutral
 USD/JPY110.88Buy
 AUD/USD0.7264Neutral
 USD/CAD1.2662↑ Sell
 EUR/JPY129.78↑ Buy
 EUR/CHF1.0850↑ Sell
 Gold1,753.75↑ Buy
 Silver22.648Buy
 Copper4.2730↑ Buy
 Crude Oil WTI75.31↑ Sell
 Brent Oil78.54↑ Sell
 Natural Gas5.516Buy
 US Coffee C194.05↑ Buy
 Euro Stoxx 504,162.45↑ Sell
 S&P 5004,455.48↑ Sell
 DAX15,560.65↑ Sell
 FTSE 1007,046.75↑ Sell
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,253.88↑ Sell
 IBEX 358,981.50Neutral
 BASF64.435↑ Sell
 Bayer47.20↑ Sell
 Allianz195.17↑ Sell
 Adidas278.82Sell
 Lufthansa6.461↑ Sell
 Siemens AG146.48↑ Sell
 Deutsche Bank AG10.970↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(5,665/ 5,715) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 27-09-2021 20:00:27
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,753.51+4.010.23%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI$75.33-1.34-1.78%
Brent$79.42-1.37-1.72%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 18:54:42 27/09/2021
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