Front Month Nymex Crude for Oct. delivery gained 73 cents per barrel, or 1.05% to $70.45 today. --Up for two consecutive sessions. --Up $2.31 or 3.39% over the last two sessions.
Front Month Nymex Natural Gas for Oct. delivery gained 29.30 cents per million British thermal units, or 5.93% to$ 5.2310 per million British thermal units today. --Up 12 of the past 16 sessions. --A new 52- week high.
U.S. Department of Energy has awarded contracts to eight companies for crude oil from a Strategic Petroleum Reserve sale of up to 20 million barrels announced last month, the department said.
Oil prices rose to a six-week high on Monday as U.S. output remains slow to return two weeks after Hurricane Ida slammed into the Gulf Coast and worries another storm could affect output in Texas this week. Those price gains came even though the Organization of the Petroleum Exporting Countries trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant.
* Impact of Hurricane Ida crimps U.S. supply. * OPEC, IEA demand outlook in focus. By Naveen Thukral. Oil prices climbed on Monday to a one-week high in a second straight session of gains as concerns over U.S. supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand.
Front Month ICE Brent Crude for Nov. delivery gained 31 cents per barrel, or 0.43% to $72.92 this week. --Up for three consecutive weeks. --Today it is up $1.47 or 2.06%.
Front Month Nymex Crude for Oct. delivery gained 43 cents per barrel, or 0.62% to $69.72 this week. --Up for three consecutive weeks. --Up $7.40 or 11.87% over the last three weeks.
Front Month Nymex Natural Gas for Oct. delivery gained 22.60 cents per million British thermal units, or 4.80% to$ 4.9380 per million British thermal units this week. --Up for three consecutive weeks. --Up $1.087 or 28.23% over the last three weeks.
OIL LOGISTICS COMPANY EXOLUM: * OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS INCREASED BY 15.3% IN AUGUST YEAR ON YEAR. * OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS IN AUGUST REMAIN 9.4% BELOW AUGUST 2019 LEVELS Source text: https://bit.ly/3A49yQl.
* Biden-Xi call boosts equities, helps sentiment. * About 3/4 of Gulf offshore oil output halted. * U.S. adds 7 oil rigs in latest week -Baker Hughes. By Jessica Resnick-Ault. Oil rose to briefly top $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost.
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