Money Oil prices rise amid risk of supply disruptions

05:05  17 april  2018
05:05  17 april  2018 Source:   Reuters

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Oil prices rose on Tuesday amid worries there could be a high risk of disruptions to supply, especially in the Middle East.© REUTERS/Isaac Urrutia/File Photo

Oil prices rose on Tuesday amid worries there could be a high risk of disruptions to supply, especially in the Middle East.

Oil prices rose on Tuesday amid worries there could be a high risk of disruptions to supply, especially in the Middle East.

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Oil prices , which rose on Wednesday after the U.S. reported a 4.9-million-barrel decline in crude inventories, could reach a barrel due to some geopolitical risks that have not abated, such as tension in the Middle East, Donald Trump and the potential for global oil supply disruptions

Oil prices soar towards 2015 highs amid fresh supply disruptions . Declining US oil stocks have helped prices recover but with rising US output this trend could reverse. It is not possible to make profit on Financial Instruments Transaction’s without taking the risk of losses.

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Brent crude oil futures (LCOc1) were at $71.80 per barrel at 0120 GMT, up 38 cents, or 0.5 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures (CLc1) were up 39 cents, or 0.6 percent, at $66.61 a barrel.

Traders said oil markets were receiving general support due to a sense that there were high risks of supply disruptions, including a potentially spreading conflict in the Middle East, renewed U.S. sanctions against Iran and falling output as a result of political and economic crisis in Venezuela.

"With so many potential supply disruptors in play and few signs that the current market upheaval will end any time soon, traders continue to pay the geopolitical risk premium," said Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA in Singapore.

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· The extent of supply disruptions amid a fragile geopolitical environment. In this Energy Insight, we analyse how the oil price path could evolve in 2018 by evaluating the aforementioned risks underlying the world oil market using a structural model of the oil market and considering various

Oil prices rose to the highest levels since mid-2015 amid protests in Iran and a major winter storm in the U.S. that raised concerns about supply disruptions . U.S. benchmark West Texas Intermediate crude contracts for February delivery rose about 0.3% to .80, as Brent crude

"Oil prices should remain bid ... at least through the Iran nuclear deal deadline (May 12) if not for the remainder of 2018," he added.

Oil markets have generally been well supported this year, with Brent up by around 16 percent from its 2018-low in February, due to healthy demand which comes as the producer cartel of the Organization of the Petroleum Exporting Countries (OPEC) leads supply cuts aimed at tightening the market and propping up prices.

(Reporting by Henning Gloystein; Editing by Joseph Radford)

U..S wholesale prices up 0.3 per cent in March .
U..S wholesale prices up 0.3 per cent in March0000

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