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The US-Russia meeting failed to reach an agreement, and the unclear geopolitical outlook led to fluctuations in oil prices

The US-Russia meeting failed to reach an agreement, and the unclear geopolitical situation led to fluctuations in oil prices. The average WTI price was $58.87 per barrel, an increase of 0.58% from the previous week. OPEC+ maintained its policy of suspending production increases to support oil prices, while the Russia-Ukraine situation and tensions in Venezuela also affected oil prices. The US-Russia talks did not produce a solution to the Ukraine issue, and investors' wait-and-see attitude put pressure on oil prices

芝商所·
芝商所·

Energy Up With Oil Futures -- Energy Roundup

Shares of energy companies ticked up alongside oil futures amid continued skepticism about the likelihood of peace in Ukraine. Oil futures in New York closed just shy of the psychologically significant $60-per-barrel level, as doubts about demand continue to offset geopolitical uncertainty. Escalating military tensions between the U.S. and major oil producer Venezuela are likely to spur crude oil prices, analysts at research firm Rystad Energy said. Write to Rob Curran at rob.curran@dowjones.com (END) Dow Jones Newswires 12-04-25 1722ET

marketscreener·
marketscreener·

US Cash Crude-Grades little changed as WTI/Brent spread holds steady

U.S. cash crude grades remained mostly unchanged as the WTI/Brent spread held steady at minus $4.01. WTI Midland and WTI at East Houston gained 5 cents each, while Mars Sour was unchanged. U.S. crude, gasoline, and distillate stocks rose last week, adding to oversupply fears. Crude inventories increased by 574,000 barrels, gasoline stocks by 4.52 million barrels, and distillate stockpiles by 2.1 million barrels. Refining capacity is expected to increase by 133,000 bpd. Brent February futures rose 22 cents to $62.67 a barrel, and WTI January futures rose 31 cents to $58.95 a barrel.

Reuters·
Reuters·

WTI Holds Gains As Cushing 'Tank Bottoms' Loom; US Crude Production At Record High

Oil prices are higher after API's report showed a fall in crude inventories, despite US crude production at record highs. Geopolitical tensions, including US actions against Venezuela and stalled Russia-Ukraine peace talks, add a risk premium. Official data showed a small crude build and significant product builds. Cushing stocks fell for the fourth week, nearing 'tank bottoms'.

Talkmarkets·
Talkmarkets·

No need for significant Dated Brent changes, Platts says

S&P Global Energy Platts announced that the Dated Brent crude oil benchmark is functioning well, with no need for major changes. The benchmark, crucial for pricing over 60% of globally traded crude, saw its last major update in May 2023 with the inclusion of U.S. WTI Midland. Platts proposed a new methodology to allow WTI Midland loadings from multiple U.S. terminals, seeking feedback by January 16. This change aims to enhance liquidity and efficiency in oil shipments to Europe.

Reuters·
Reuters·
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