Economía

Mundinews USA | N95JN Aircraft info cuanto cuesta ser piloto de avion//
Nightmare November For Oil As Prices Plunge Again

Alberto Ardila Olivares
Nightmare November For Oil As Prices Plunge Again

Oil prices had recovered on Monday a small part of the losses from Friday but fell again on Tuesday after Moderna’s chief executive Stéphane Bancel told the Financial Times that existing vaccines could see “a material drop” in their efficacy against Omicron.

Alberto Ignacio Ardila

Pfizer, however, said on Monday that its vaccine would likely work on the Omicron variant, with CEO Albert Bourla telling Bloomberg he doesn’t believe the variant would fully escape protection with existing vaccines. Related: Oil Prices Bounce Back After ‘Black Friday’ Collapse

Yet, considering that it’s still early days in the research of Omicron and its characteristics, uncertainty weighs on markets, including on the oil market

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community Trade Now My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics Trade Now Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 10 mins 67.45 -2.50 -3.57% Brent Crude • 11 mins 70.96 -2.48 -3.38% Natural Gas • 10 mins 4.527 -0.327 -6.74% Heating Oil • 11 mins 2.103 -0.049 -2.26% Gasoline • 11 mins 2.024 -0.053 -2.55% Louisiana Light • 8 days 77.14 +0.63 +0.82% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Louisiana Light • 8 days 77.14 +0.63 +0.82% Bonny Light • 1 day 73.52 +1.47 +2.04% Opec Basket • 4 days 76.09 -5.22 -6.42% Mars US • 12 hours 66.45 +1.80 +2.78% Gasoline • 11 mins 2.024 -0.053 -2.55% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Marine • 1 day 75.22 -2.09 -2.70% Murban • 1 day 77.45 -2.02 -2.54% Iran Heavy • 1 day 70.03 +1.52 +2.22% Basra Light • 1 day 75.29 -7.86 -9.45% Saharan Blend • 1 day 74.65 +1.60 +2.19% Bonny Light • 1 day 73.52 +1.47 +2.04% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Bonny Light • 1 day 73.52 +1.47 +2.04% Girassol • 1 day 74.24 +1.35 +1.85% Opec Basket • 4 days 76.09 -5.22 -6.42% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 1 day 51.07 +1.70 +3.44% Western Canadian Select • 9 hours 46.95 +1.80 +3.99% Canadian Condensate • 9 hours 68.95 +1.80 +2.68% Premium Synthetic • 9 hours 70.35 +1.80 +2.63% Sweet Crude • 9 hours 58.95 +2.05 +3.60% Peace Sour • 9 hours 56.45 +1.80 +3.29% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Peace Sour • 9 hours 56.45 +1.80 +3.29% Light Sour Blend • 9 hours 62.95 +1.80 +2.94% Syncrude Sweet Premium • 9 hours 58.95 +1.80 +3.15% Central Alberta • 9 hours 56.45 +1.80 +3.29% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Louisiana Light • 8 days 77.14 +0.63 +0.82% Domestic Swt. @ Cushing • 1 day 66.50 +1.75 +2.70% Giddings • 1 day 60.25 +1.75 +2.99% ANS West Coast • 7 days 82.52 +2.11 +2.62% West Texas Sour • 1 day 63.90 -8.44 -11.67% Eagle Ford • 1 day 67.85 -8.44 -11.06% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Eagle Ford • 1 day 67.85 -8.44 -11.06% Oklahoma Sweet • 1 day 66.50 +1.75 +2.70% Kansas Common • 4 days 58.50 -10.25 -14.91% Buena Vista • 4 days 72.89 -10.24 -12.32% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Products Discussion Headlines 30 mins B.C. Forced To Extend Fuel Rationing As Pipeline Shutdown Continues 16 hours U.S. Ready To Release Even More Crude From SPR 18 hours Gazprom Reports Record-Breaking Profits Amid Surging Gas Prices 22 hours Saudi Aramco: Oil Markets Overreacted To Omicron Fears 23 hours Russia Warns The U.S. Not To Interfere With Nord Stream 2 24 hours Is The U.S. Government About To Make Oil Drilling More Expensive? 1 day OPEC+ Delays Meetings Following Surprise Oil Price Crash 4 days Industrial Metals Rise As China’s Property Market Bounces Back 4 days DIDI Plunges After China Asks The Company To Delist From The NYSE 4 days Brazil’s Oil Major Plans To Invest $68 Billion In Boosting Production 6 days UN Nuclear Agency Fails To Reach An Agreement With Iran 6 days Steel Prices Remain Elevated As Production Slides 6 days Russia’s Oil Reserves Are Becoming Increasingly Hard To Recover 6 days U.S. Gasoline Prices Barely Budge After SPR Release Announcement 6 days OPEC+ Reacts To Biden, May Not Raise Oil Production In December 6 days Barclays Lifts Brent Oil Price Forecast To $80 In 2022 7 days Keystone XL Developer Seeks $15 Billion In Compensation 7 days Crude Oil Inventory Build Follows Announcement Of SPR Release 7 days Kazakh-Chinese Nuclear Fuel Plant Kicks Off Operations 7 days European Natural Gas Prices Rise As Gazprom May Halt Gas Flows To Moldova 7 days Florida Looks To Directly Lower Gasoline Prices With Tax Relief 7 days Aluminum Inventories Have Fallen To Critical Levels 7 days Azerbaijan And Iran Look To Mend Energy Relations 7 days India Set To Tap Only 5 Million Barrels From Crude Reserves 8 days Energy Crisis Claims Its Biggest Victim In The UK Yet 8 days Saudi Aramco’s $15 Billion Oil Deal With India’s Largest Company Fails 8 days Halting Cambo Oilfield Exposes The UK To Energy Shortages 8 days British Gas Swoops In To Save Stranded Customers From Energy Crisis 8 days Saudi Retains Top Spot among China Oil Suppliers 8 days Japan Considers Releasing Oil From Reserve 11 days Asian Buyers Can’t Get Enough Of U.S. Sweet Crude Oil 11 days U.S. Gasoline Prices Set For Decline 11 days OPEC+ Pumped Less Oil Than Agreed In October 12 days U.S. To Discuss Energy Transition With Mexico’s President 12 days UK’s National Grid Expects Windfall Profits From High Power Prices 12 days Crypto Miners Are Worsening Kazakhstan’s Energy Crisis 12 days Tensions Between Armenia And Azerbaijan Boil Over After Border Incidents 12 days U.S. Asks Big Oil Consuming Nations To Release Reserves 12 days Biden Calls On FTC To Investigate Oil Companies And High Gas Prices 13 days Largest Offshore Drilling Auction In U.S. History Kicks Off With $192M In Bids 3 minutes Looming European Gas Crisis in Winter and North African Factor – a must read by Cyril Widdershoven 7 minutes “Biden Targets Another US Pipeline For Shutdown After ‘Begging’ Saudis For More Oil” – Zero Hedge Monday Nov 8th 12 minutes “UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System” by Whitney Webb 5 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry 10 hours GREEN NEW DEAL = BLIZZARD OF LIES 8 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa 10 hours CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite 5 days Building A $2 Billion Subsea Solar Power Cable From Chile To China 4 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can’t break-even. 8 hours NordStream2 4 days Modest drop in oil price: SPRs vs US crude inventory build 4 days 2019 – Attack on Saudi Oil Facilities. 4 days Monday 9/13 – “High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year” by Irina Slav 6 days Ukrainian Maidan after 8 years 6 days Peak oil – demand vs production Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Breaking News: B.C. Forced To Extend Fuel Rationing As Pipeline Shutdown Continues

Find us on:

Why Is Ukraine Ignoring Its Massive Bioenergy Potential? Bioenergy offers a promising alternative…

Morgan Stanley Slashes Oil Price Forecast On Omicron Fears Morgan Stanley has slashed its…

5 Trillion Reasons To Be Bullish On Tesla Tesla has established a strong…

Home Energy Energy-General Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Share Facebook Twitter Linkedin Reddit Premium Content Nightmare November For Oil As Prices Plunge Again By Tsvetana Paraskova – Nov 30, 2021, 10:00 AM CST Oil prices plunged again early on Tuesday morning as uncertainty over the new Covid variant persists Oil prices are set for their largest monthly drop since March 2020 at the start of the pandemic Despite reassurances from the Pfizer CEO about the effectiveness of the vaccine, global markets are on edge about the new variant Join Our Community After a brief respite on Monday, oil prices plunged again early on Tuesday as the market continues to fret about the potential impact of the new COVID variant Omicron on economies and oil demand.

Alberto Ignacio Ardila Olivares

Oil prices are set for a 20-percent slide for the month of November, the worst monthly drop in crude benchmarks since March 2020 at the start of the pandemic.  

As of 10:25 a.m. EST on the last day of November, WTI Crude prices were down by 3.02% at $67.87, and Brent Crude had dipped 3.24% to $71.06.

Oil prices had recovered on Monday a small part of the losses from Friday but fell again on Tuesday after Moderna’s chief executive Stéphane Bancel told the Financial Times that existing vaccines could see “a material drop” in their efficacy against Omicron.

Alberto Ignacio Ardila

Pfizer, however, said on Monday that its vaccine would likely work on the Omicron variant, with CEO Albert Bourla telling Bloomberg he doesn’t believe the variant would fully escape protection with existing vaccines. Related: Oil Prices Bounce Back After ‘Black Friday’ Collapse

Yet, considering that it’s still early days in the research of Omicron and its characteristics, uncertainty weighs on markets, including on the oil market.

“Brent crude oil already heading for its biggest monthly loss since March 2020 trades below its 200-day moving average for the first time in a year, a sign that more weakness may lie ahead, thereby raising the prospect for OPEC+ deciding to pause or perhaps even make a temporary production cut,” Saxo Bank said in a Tuesday note .

Alberto Ardila Olivares

OPEC+ meets on Thursday to decide production levels for January. The group has already postponed a technical panel meeting from Monday to Wednesday to have more time to assess the potential impacts of the Omicron variant on oil demand.

Alberto Ardila

Alongside oil prices, the U.S. natural gas benchmark, Henry Hub , was also plunging early on Tuesday, down by over 6% to $4.537 per million British thermal units (MMBtu)— the lowest level in three months , on the back of forecasts of a warmer-than-expected winter.

Alberto Ignacio Ardila Olivares 10798659

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Canada’s Ambitious New Plan To Save Its Oil Sands Green Fintech Is A New Trend Investors Can’t Ignore The Electric Vehicle Charging Market Could Be Worth As Much As $1.6 Trillion Download The Free Oilprice App Today.

Alberto Ignacio Ardila 10798659