{"id":59257,"date":"2014-08-25T08:40:48","date_gmt":"2014-08-25T12:40:48","guid":{"rendered":"http:\/\/countingpips.com\/?p=59257"},"modified":"2014-08-25T09:20:55","modified_gmt":"2014-08-25T13:20:55","slug":"crude-oil-opens-lower-as-supply-remains-unaffected","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/crude-oil-opens-lower-as-supply-remains-unaffected\/","title":{"rendered":"Crude Oil Opens Lower as Supply Remains Unaffected"},"content":{"rendered":"
August 25, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Crude prices continue to extend losses on Monday amid speculation that the ongoing turmoil across the Middle East won\u2019t threaten global crude supplies, while the global demand remains weak.<\/p>\n

Futures for the North American West Texas Intermediate (WTI) crude for October delivery traded 0.19% lower to $93.48 a barrel on the New York Mercantile Exchange. While the European benchmark Brent crude for October settlement dropped 0.22% to $102.07 a barrel on the ICE Futures Europe exchange based in London.<\/span><\/p>\n

Crude – Libya<\/span><\/h2>\n

The crude production in Libya rose to 656,000 barrels a day from 612,000 barrels on August 21, according to Mohamed Elharari, a spokesman from the state-run National Oil Corporation, said over the weekend.<\/p>\n

The nation\u2019s oil supply remained unaffected after another group seized Tripoli\u2019s international airport. The newly elected parliament won control of the airport despite being targeted by airstrikes last week.<\/p>\n

Iraq<\/span><\/h2>\n

In Iraq, the ongoing crisis continues as the nation\u2019s crude remains unaffected. The nation\u2019s southern region and home to almost three-quarters of its crude output remains spared and under the control of the capital Baghdad\u2019s central government.<\/p>

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The US President Barack Obama\u2019s bid and talks to form a new government Iraq failed after renewed tensions.<\/p>\n

Russia<\/span><\/h2>\n

The sanctions imposed on Russia by the European Union showed little affect on the nation\u2019s oil market. Last week, the Russian oil giants Rosneft agreed to buy a 30% stake in Norway\u2019s North Atlantic Drilling Limited for $9.25 per share.<\/p>\n

The Russian oil company lacks the technology and equipments for deep water drilling after the new sanctions imposed by the western nations limit technology exports to Russia.<\/p>\n

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The post Crude Oil Opens Lower as Supply Remains Unaffected<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Crude prices continue to extend losses on Monday amid speculation that the ongoing turmoil across the Middle East won\u2019t threaten global crude supplies, while the global demand remains weak. Futures for the North American West Texas Intermediate (WTI) crude for October delivery traded 0.19% lower to $93.48 a barrel on […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-59257","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=59257"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59257\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}