UAE Energy Minster says energy supplies in the country are stable and operating normally, via State News Agency
Newsquawk Staff ·
UAE Energy Minster says energy supplies in the country are stable and operating normally, via State News Agency.
What it means
The UAE Energy Minister's confirmation of stable and normal operating energy supplies suggests no immediate disruptions in Middle Eastern oil production. This stability is particularly significant amid ongoing global energy concerns and could alleviate upward pressure on oil prices, influencing market sentiment during both the EU and US sessions.
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
- US Energy Secretary Wright says the suspension of sanctions on Russia is temporary; US is ramping up LNG exports
- US President Trump says he is travelling to a rally in Corpus Christi, Texas, where the US will receive 1mln barrels of Venezuelan oil as a result of the military operation, followed by the biggest oil deal in the history of the world
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
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