{"id":3909,"date":"2022-01-08T08:31:41","date_gmt":"2022-01-08T12:31:41","guid":{"rendered":"https:\/\/energiesnet.com\/espanol\/?p=3909"},"modified":"2022-01-10T04:07:57","modified_gmt":"2022-01-10T08:07:57","slug":"m-saefong-and-w-watts-marketwatch-oil-ends-lower-friday-but-notches-a-roughly-5-gain-for-the-week-on-kazakhstan-unrest","status":"publish","type":"post","link":"https:\/\/energiesnet.com\/espanol\/m-saefong-and-w-watts-marketwatch-oil-ends-lower-friday-but-notches-a-roughly-5-gain-for-the-week-on-kazakhstan-unrest\/","title":{"rendered":"M.Saefong, W.Watts\/MarketWatch -Oil Ends Lower Friday, But Notches a Roughly 5% Gain for The Week on Kazakhstan Unrest"},"content":{"rendered":"\n
\"\"
AFP -An aerial view of Russian military vehicles waiting for loading to a military cargo
plane to depart to Kazakhstan at the airport of Ivanovo, taken by the Russian Defense Ministry on Jan. 6, 2022.<\/figcaption><\/figure>\n\n\n\n

By Myra Saefong and Williams Watts\/MarketWatch<\/p>\n\n\n\n

SAN FRANCISCO
EnergiesNety.com 01 07 2022<\/p>\n\n\n\n

Oil futures ended lower on Friday, but tallied a weekly gain of roughly 5% as investors continued to monitor unrest in Kazakhstan that threatens to add to supply outages that have helped boost crude prices.<\/p>\n\n\n\n

Violent protests, sparked by a sharp rise in fuel prices, have rocked Kazakhstan this week, with scores of protesters and more than a dozen law enforcement officers killed. The internet across the country was shut down, and two airports, including in Almaty, the nation\u2019s largest city, were closed. On Friday, the country\u2019s president said order had been restored<\/a>. The government also announced a 180-day price cap on vehicle fuel and a moratorium on utility rate increases.<\/p>\n\n\n\n

Kazakhstan is worrisome because it exports about 1.5 million barrels of oil per day and \u201cthe violence is near the oil producing center,\u201d Michael Lynch, president at Strategic Energy & Economic Research, told MarketWatch.<\/p>\n\n\n\n

The operator of Kazakhstan\u2019s highest-producing oil field, Tengiz, said Thursday that a logistics issue had caused it to adjust production levels given political protests at the site, according to a report from S&P Global Platts<\/a>.<\/p>\n\n\n\n

Should any significant amount of production from the country be lost, \u201cthe bull market in oil will be extended,\u201d said Lynch. \u201cOPEC+ is unlikely to react to such a loss unless it is clear that it will be lengthy and global inventories would thus continue to decline,\u201d he said.<\/p>\n\n\n\n

West Texas Intermediate crude <\/strong>for February delivery CL00, -0.65%<\/a> CLG22, -0.65%<\/a> fell 56 cents<\/strong><\/span>, or 0.7%, to settle at <\/strong>$78.90<\/strong> <\/span>a barrel on the New York Mercantile Exchange, but front-month contract prices still logged a 4.9% weekly rise, according to Dow Jones Market Data.<\/p>\n\n\n\n

March Brent crude <\/strong>BRN00, +0.22%<\/a> BRNH22, +0.22%<\/a>, the global benchmark, lost 24 cents<\/strong>,<\/span> or 0.3%, to settle at $81.75<\/span><\/strong> a barrel on ICE Futures Europe, slightly paring its weekly rise to 5.1%.<\/p>\n\n\n\n

Kazakhstan \u201crepresents yet another risk supply disruption given the epicenter of the unfolding unrest and a \u2018technical adjustment\u2019 having already occurred at the Tengiz oil field,\u201d said Helima Croft, head of global commodity strategy at RBC Capital Markets, in a note.<\/p>\n\n\n\n

The operator of the Tengiz oil field, the country\u2019s largest at 600,000 barrels a day, on Thursday said it had made a technical adjustment due to logistics issues, S&P Global Platts reported<\/a>. Kazakhstan is the largest producer in the former Soviet Union at around 1.6 million barrels a day.<\/p>\n\n\n\n

\u201cOverall, with around 1 [million barrels a day] of production currently offline because of disruptions in Ecuador, Libya and Nigeria, further outages would be particularly unwelcome for the Biden administration as it faces a consumer backlash over rising gasoline prices in advance of the midterm elections,\u201d Croft said.<\/p>\n\n\n\n

On Friday, February ga<\/strong>soline\u00a0RBG22,\u00a0<\/a>fell 0.2% to $2.299<\/strong><\/span> a gallon, ending 3.3% higher for the week, and February heating oil\u00a0<\/strong>HOG22,\u00a0+0.38%<\/a>\u00a0added 0.2% to <\/span>$2.482<\/span><\/strong> a gallon, marking a weekly rise of 6.7%.<\/p>\n\n\n\n

February natural gas<\/strong> NGG22, +3.23%<\/a> settled at $3.916<\/span><\/strong> per million British thermal units, up 2.7% Friday, up 5% for the week.<\/p>\n\n\n\n

For now, the unrest in Kazakhstan overshadows the tensions between Russia and Ukraine, as well as the Iran nuclear deal negotiations, said Lynch. \u201cIf there was positive news from the nuclear talks, \u201cthat would send prices lower for sure, but that doesn\u2019t seem likely in the near future.\u201d<\/p>\n\n\n\n

<\/p>\n\n\n\n

By Myra Saefong and Williams Watts from MarketWatch
marketwatch.com <\/a>01 07 2022<\/p>\n","protected":false},"excerpt":{"rendered":"

By Myra Saefong and Williams Watts\/MarketWatch SAN FRANCISCOEnergiesNety.com 01 07 2022 Oil futures ended lower on Friday, but tallied a weekly gain of roughly 5% as investors continued to monitor unrest in Kazakhstan that threatens to add to supply outages that have helped boost crude prices. Violent protests, sparked by a sharp rise in fuel …<\/p>\n

M.Saefong, W.Watts\/MarketWatch -Oil Ends Lower Friday, But Notches a Roughly 5% Gain for The Week on Kazakhstan Unrest<\/span> Leer m\u00e1s »<\/a><\/p>\n","protected":false},"author":2,"featured_media":3910,"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":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[45],"tags":[],"class_list":["post-3909","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\/3909","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=3909"}],"version-history":[{"count":0,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/posts\/3909\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/media\/3910"}],"wp:attachment":[{"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/media?parent=3909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/categories?post=3909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/energiesnet.com\/espanol\/wp-json\/wp\/v2\/tags?post=3909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}