{"id":14658,"date":"2021-07-16T08:04:11","date_gmt":"2021-07-16T08:04:11","guid":{"rendered":"https:\/\/errante.com\/?p=14658"},"modified":"2023-08-25T14:29:33","modified_gmt":"2023-08-25T14:29:33","slug":"its-a-bad-week-for-oil","status":"publish","type":"post","link":"https:\/\/errante.com\/pt-pt\/newsroom\/its-a-bad-week-for-oil\/","title":{"rendered":"It\u2019s a Bad Week for Oil"},"content":{"rendered":"\n<p>Oil headed for the biggest weekly loss since mid-March as a resurgence of Covid-19 and uncertainty around the prospect for an OPEC+ deal to increase supply clouded the short-term outlook.&nbsp;<\/p>\n\n\n\n<p>Oil prices fell by more than $1 a barrel on Thursday on expectations of more crude hitting the market after a compromise deal between leading OPEC producers and a surprisingly poor weekly reading on U.S. fuel demand.&nbsp;<\/p>\n\n\n\n<p>Talks among the Organization of the Petroleum Exporting Countries, Russia, and their allies, a group known as OPEC+, broke down this month after the UAE objected to extending the group&#8217;s supply pact beyond April 2022, saying the deal did not account for the UAE&#8217;s increased output capacity.&nbsp;<\/p>\n\n\n\n<p>The agreement should now pave the way for OPEC+ members to extend a deal to curb output until the end of 2022,\u00a0the sources added, although the UAE energy ministry said in a statement that no deal with OPEC+ on its baseline has been reached and deliberations were continuing.\u00a0<\/p>\n\n\n\n<p>Brent crude is down to&nbsp;<a href=\"https:\/\/www.investing.com\/commodities\/brent-oil\" target=\"_blank\" rel=\"noreferrer noopener\">$73.25<\/a>&nbsp;and Crude Oil WTI Futures down to&nbsp;<a href=\"https:\/\/za.investing.com\/commodities\/crude-oil\" target=\"_blank\" rel=\"noreferrer noopener\">$71.47<\/a>&nbsp;which could indicate an opportunity to buy at 10.30 GMT+3.&nbsp;<\/p>\n\n\n\n<p>If you have any questions, please email our <a rel=\"noreferrer noopener\" href=\"mailto:educationcentre@errante.com\" target=\"_blank\">Education Centre<\/a>.<\/p>\n\n\n\n<p>If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email&nbsp;<a href=\"mailto:support@errante.com\">support@errante.com<\/a>.<\/p>\n\n\n\n<p>We are&nbsp;<strong>Errante. Trading made personal<\/strong>.<\/p>\n\n\n\n<p>Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [<a href=\"https:\/\/fsaseychelles.sc\/regulated-entities\/capital-markets\/\" target=\"_blank\" rel=\"noreferrer noopener\">SD038<\/a>].<\/p>\n\n\n\n<p>To find out more about Errante, visit&nbsp;<a href=\"https:\/\/errante.com\/pt-pt\/\">https:\/\/errante.com\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil headed for the biggest weekly loss since mid-March as a resurgence of Covid-19 and uncertainty around the prospect for an OPEC+ deal to increase supply clouded the short-term outlook.&nbsp; Oil prices fell by more than $1 a barrel on Thursday on expectations of more crude hitting the market after a compromise deal between leading [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":14692,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[441,59],"tags":[7173,11408,90,9582,11409,11410,92],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - 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