{"id":24216,"date":"2024-12-12T03:59:24","date_gmt":"2024-12-12T07:59:24","guid":{"rendered":"https:\/\/energiesnet.com\/espanol\/?p=24216"},"modified":"2024-12-12T04:00:30","modified_gmt":"2024-12-12T08:00:30","slug":"u-s-oil-prices-surge-past-70-amid-tight-supply-concerns","status":"publish","type":"post","link":"https:\/\/energiesnet.com\/espanol\/u-s-oil-prices-surge-past-70-amid-tight-supply-concerns\/","title":{"rendered":"U.S. Oil Prices Surge Wednesday  Past $70 Amid Tight Supply Concerns"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/energiesnet.com\/espanol\/wp-content\/uploads\/2024\/12\/oil_storage.jpg\" alt=\"EIA reports a third straight weekly fall in U.S. crude supplies\" class=\"wp-image-24217\" srcset=\"https:\/\/energiesnet.com\/espanol\/wp-content\/uploads\/2024\/12\/oil_storage.jpg 600w, https:\/\/energiesnet.com\/espanol\/wp-content\/uploads\/2024\/12\/oil_storage-300x200.jpg 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption class=\"wp-element-caption\">EIA reports a third straight weekly fall in U.S. crude supplies<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Myra P. Saefong, Reuters           <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SAN FRANCISCO           <br>EnergiesNet.com 12 12 2024        <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Crude-oil prices ended higher for a third straight session on Wednesday, with China\u2019s plans to boost its economy expected to lift energy demand and as talk of potential new U.S. oil sanctions on Russia raised prospects for tighter global supplies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Official U.S. data released Wednesday also revealed a weekly fall in domestic crude supplies for a third consecutive week, while the major oil producers known as OPEC cut their oil demand-growth forecasts for this year and next.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Price move<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>West Texas Intermediate crude\u00a0<a href=\"https:\/\/www.marketwatch.com\/investing\/future\/cl00?mod=article_chiclet\"><\/a><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/cl00?mod=article_chiclet\">CL00+0.17%<\/a>\u00a0for January delivery\u00a0<a href=\"https:\/\/www.marketwatch.com\/investing\/future\/cl.1?mod=article_chiclet\"><\/a><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/cl.1?mod=article_chiclet\">CL.1+0.17%<\/a>\u00a0<a href=\"https:\/\/www.marketwatch.com\/investing\/future\/clf25?mod=article_chiclet\"><\/a><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/clf25?mod=article_chiclet\">CLF25+0.17%<\/a>\u00a0rose $1.70, or 2.5%, to settle at $70.29 a barrel on the New York Mercantile Exchange, with prices ending at their highest since Nov. 22, according to Dow Jones Market Data.<br><br><\/li>\n\n\n\n<li>February Brent crude\u00a0<a href=\"https:\/\/www.marketwatch.com\/investing\/future\/brn00?countryCode=uk&amp;mod=article_chiclet\"><\/a><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/brn00?countryCode=uk&amp;mod=article_chiclet\">BRN00+0.27%<\/a>\u00a0<a href=\"https:\/\/www.marketwatch.com\/investing\/future\/brng25?countryCode=uk&amp;mod=article_chiclet\"><\/a><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/brng25?countryCode=uk&amp;mod=article_chiclet\">BRNG25+0.27%<\/a>, the global benchmark, climbed by $1.33, or 1.8%, at $73.52 a barrel on ICE Futures Europe.<br><br><\/li>\n\n\n\n<li>January gasoline\u00a0<a href=\"https:\/\/www.marketwatch.com\/investing\/future\/rbf25?mod=article_chiclet\"><\/a><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/rbf25?mod=article_chiclet\">RBF25+0.49%<\/a>\u00a0added 1.5% at $1.99 a gallon, while January heating oil\u00a0<a href=\"https:\/\/www.marketwatch.com\/investing\/future\/hof25?mod=article_chiclet\"><\/a><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/hof25?mod=article_chiclet\">HOF25+0.47%<\/a>\u00a0rose 1.7% to $2.22 a gallon.<br><br><\/li>\n\n\n\n<li>Natural gas for January delivery\u00a0<a href=\"https:\/\/www.marketwatch.com\/investing\/future\/ngf25?mod=article_chiclet\"><\/a><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/ngf25?mod=article_chiclet\">NGF25-0.30%<\/a>\u00a0settled at $3.38 per million British thermal units, up 6.8% Wednesday. Month to date, it\u2019s up just 0.5%.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"648\" height=\"452\" src=\"https:\/\/energiesnet.com\/espanol\/wp-content\/uploads\/2024\/12\/image-1.png\" alt=\"\" class=\"wp-image-24218\" srcset=\"https:\/\/energiesnet.com\/espanol\/wp-content\/uploads\/2024\/12\/image-1.png 648w, https:\/\/energiesnet.com\/espanol\/wp-content\/uploads\/2024\/12\/image-1-300x209.png 300w\" sizes=\"(max-width: 648px) 100vw, 648px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>Market drivers<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oil prices gained following a&nbsp;<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-11\/us-mulls-new-russia-oil-sanctions-to-weaken-putin-ahead-of-trump\" target=\"_blank\" rel=\"noreferrer noopener\">report by Bloomberg<\/a>, citing people familiar with the matter, that the Biden administration is considering new sanctions on Russian oil \u2014 in a effort to weaken Russia\u2019s ability to fund its war with Ukraine \u2014 before incoming U.S. President Donald Trump takes office.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A U.S. intelligence assessment concluded that Russia may use its lethal intermediate-range ballistic missile against Ukraine again in the coming days,&nbsp;<a href=\"https:\/\/apnews.com\/article\/russia-oreshnik-missile-ukraine-intelligence-war-28bf28d09087844544874df151bd3a9a\" target=\"_blank\" rel=\"noreferrer noopener\">the Associated Press reported<\/a>, citing a U.S. official.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That would \u201cdefinitely amp up the risk,\u201d and with reports that the U.S. is looking to toughen sanctions on Russia, there may be \u201csome protection buying in the [oil] complex,\u201d Phil Flynn, senior market analyst at the Price Futures Group, told MarketWatch.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">New Russian oil sanctions had been \u201cpreviously&nbsp;avoided due to concerns over global energy cost spikes,\u201d said Stephen Innes, managing partner at SPI Asset Management. But \u201cbolder measures are now deemed viable, with oil prices currently subdued by a global surplus and increasing anxieties that the incoming administration may push for a swift resolution to the conflict in Ukraine.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis shift could impose new pressures on one of the world\u2019s largest oil producers,\u201d he said in a daily note. \u201cUntil the specifics of the sanctions are revealed, this could establish a floor under oil prices,\u201d said Innes. \u201cIf the sanctions prove substantial, we could see oil prices climb higher.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Support for oil has also been tied to the recent pledge by China\u2019s Politburo for&nbsp;<a href=\"https:\/\/www.marketwatch.com\/story\/chinese-stocks-jumped-heres-the-latest-government-statement-and-what-it-means-1350742b?mod=article_inline\" target=\"_blank\" rel=\"noreferrer noopener\">more aggressive stimulus measures<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cExperts see supporting domestic spending and investment as key factors to support growth,\u201d said Samer Hasn, senior market analyst at XS.com. \u201cThe crystallization of the impact of the recent support packages and reforms over the next year, in conjunction with easy monetary conditions, should accelerate the recovery,\u201d he wrote in market commentary.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oil prices were up despite the Organization of the Petroleum Exporting Countries, in a monthly report Wednesday, lowering its forecast for 2024 global oil demand growth by 210,000 barrels per day from the November report, to 1.6 million barrels per day, year over year. For 2025, it also cut its oil demand-growth forecast by 90,000 barrels per day, to 1.4 million bpd.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The reductions marked the fifth month in row that OPEC has lowered its oil demand-growth projections,\u00a0<a href=\"https:\/\/www.wsj.com\/business\/energy-oil\/opec-further-trims-oil-demand-forecast-after-output-hike-delay-fffc5d39\" target=\"_blank\" rel=\"noreferrer noopener\">according to the Wall Street Journal<\/a>. OPEC\u2019s downward revision likely \u201cpartially reflects the challenging growth outlook in China,\u201d said Kenny Zhu, research analyst at Global X, in emailed commentary<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>Supply data<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Weekly data on U.S. petroleum supplies from the Energy Information Administration released Wednesday&nbsp;<a href=\"https:\/\/www.marketwatch.com\/livecoverage\/stock-market-today-dow-futures-steady-as-cpi-report-looms\/card\/oil-prices-gain-as-u-s-supplies-fall-a-third-straight-week-oVUU7lEiT1twDrTemQU6?mod=article_inline\" target=\"_blank\" rel=\"noreferrer noopener\">showed a decline of 1.4 million barrels<\/a>&nbsp;in U.S. commercial crude inventories for the week ended Dec. 6.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report was expected to show a decline of 600,000 barrels on average, according to a survey of analysts conducted by S&amp;P Global Commodity Insights. Late Tuesday, the American Petroleum Institute reported a crude-inventory climb of 499,000 barrels, according to a source citing the data.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The EIA also reported weekly supply gains of 5.1 million barrels for gasoline and 3.2 million barrels for distillates. The S&amp;P Global Commodity Insights survey forecast inventory gains of 1.7 million barrels each for gasoline and distillates.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">U.S. oil production was up by 118,000 barrels at 13.631 million barrels per day in the latest week, the EIA said. That\u2019s a fresh record high.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Crude stocks at the Cushing, Okla., Nymex delivery hub fell by 1.3 million barrels to 22.9 million barrels, data showed. Demand for gasoline rose, with total motor gasoline supplied, a proxy for demand, at 8.810 million barrels per day in the latest week, from 8.738 million bpd from a week earlier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Separately, a&nbsp;<a href=\"https:\/\/www.marketwatch.com\/livecoverage\/stock-market-today-dow-futures-struggle-to-rally-after-sell-off\/card\/eia-lifts-natural-gas-price-forecast-despite-robust-u-s-supplies-G60H89LQCGrN51gbO2GP?mod=article_inline\" target=\"_blank\" rel=\"noreferrer noopener\">monthly report from the EIA<\/a>&nbsp;released Tuesday showed expectations for a oil supply deficit this year, with&nbsp;<a href=\"https:\/\/www.eia.gov\/outlooks\/steo\/pdf\/compare.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">total world oil output forecast<\/a>&nbsp;at 102.6 million barrels per day and total world consumption at 103 million bpd.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">marketwatch.com 12 11 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Myra P. Saefong, Reuters SAN FRANCISCO EnergiesNet.com 12 12 2024 Crude-oil prices ended higher for a third straight session on Wednesday, with China\u2019s plans to boost its economy expected to lift energy demand and as talk of potential new U.S. oil sanctions on Russia raised prospects for tighter global supplies. Official U.S. data released Wednesday &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/energiesnet.com\/espanol\/u-s-oil-prices-surge-past-70-amid-tight-supply-concerns\/\"> <span class=\"screen-reader-text\">U.S. Oil Prices Surge Wednesday  Past $70 Amid Tight Supply Concerns<\/span> Leer m\u00e1s &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":24217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[45],"tags":[],"class_list":["post-24216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-noticias-diarias"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/posts\/24216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/comments?post=24216"}],"version-history":[{"count":0,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/posts\/24216\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/media\/24217"}],"wp:attachment":[{"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/media?parent=24216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/categories?post=24216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/tags?post=24216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}