{"id":2286,"date":"2017-12-16T23:29:09","date_gmt":"2017-12-17T00:29:09","guid":{"rendered":"http:\/\/madaresharghi.com\/oil-below-two-year-highs\/"},"modified":"2017-12-16T23:29:09","modified_gmt":"2017-12-17T00:29:09","slug":"oil-below-two-year-highs","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/oil-below-two-year-highs\/","title":{"rendered":"Oil Below Two-Year Highs"},"content":{"rendered":"<p><a href=\"http:\/\/madaresharghi..com\">madaresharghi<\/a><br \/>\n<\/p>\n<p> \tOil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing US output and weak gasoline demand kept a lid on gains. Brent crude futures settled down 8 cents or 0.1% to $63.23 a barrel. US West Texas Intermediate crude futures settled up 26 cents to $57.30 a barrel. WTI hit a two-year high of $59.05 on Nov. 24, CNBC reported.<br \/> \tBrent ended the week down slightly with a 0.3% fall, while WTI was down 0.1%. \u201cThere is definitely some pressure on crude,\u201d said John Kilduff, partner at energy hedge fund Again Capital LLC in New York. \u201cDemand for gasoline is lower, which is not normally the case in the holiday season and supplies are steadily rising. It\u2019s something to watch.\u201d<br \/> \tGasoline futures were down 3.5% on the week.<br \/> \tHedge funds and other money managers pared their net long US crude futures and options positions in the week to Dec. 12, cutting the holdings for a second week after hitting a record high, the US Commodity Futures Trading Commission said on Friday.<br \/> \tThe speculator group cut its combined futures and options position in New York and London by 7,542 contracts to 435,200 during the period. The cut was the second in a row.<br \/> \tThe ongoing outage of the Forties pipeline, which carries North Sea oil to Britain, was a price support for Brent early in the session before the grade fell slightly, traders said.<br \/> \tThe outage\u2019s main physical impact is the North Sea region, but it has global relevance as the crude is used to underpin the Brent price benchmark. Operator INEOS declared force majeure on Forties, the first such declaration in decades.<br \/> \tForce majeure is a legal designation that suspends a firm\u2019s contractual obligations due to situations beyond its control.<br \/> \tStill, US oil production, which has soared 16% since mid-2016 to 9.78 million barrels per day, has undermined OPEC\u2019s output curbs. US supply, now close to matching levels of top producers Russia and Saudi Arabia, will likely move oil markets into a supply surplus in the first half of 2018, the International Energy Agency said.<\/p>\n<p> \t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>madaresharghi Oil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing US output and weak gasoline demand kept a lid on gains. Brent crude futures settled down 8 cents or 0.1% to $63.23 a barrel. US West Texas Intermediate crude futures settled [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil Below Two-Year Highs - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/oil-below-two-year-highs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil Below Two-Year Highs - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi Oil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing US output and weak gasoline demand kept a lid on gains. Brent crude futures settled down 8 cents or 0.1% to $63.23 a barrel. US West Texas Intermediate crude futures settled [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/madaresharghi.ir\/en\/oil-below-two-year-highs\/\" \/>\n<meta property=\"og:site_name\" content=\"madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-17T00:29:09+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\",\"url\":\"https:\/\/madaresharghi.ir\/en\/\",\"name\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"description\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/madaresharghi.ir\/en\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/oil-below-two-year-highs\/#webpage\",\"url\":\"https:\/\/madaresharghi.ir\/en\/oil-below-two-year-highs\/\",\"name\":\"Oil Below Two-Year Highs - madaresharghi | An Analytical Look at Middle Eastern Developments\",\"isPartOf\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\"},\"datePublished\":\"2017-12-17T00:29:09+00:00\",\"dateModified\":\"2017-12-17T00:29:09+00:00\",\"author\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/madaresharghi.ir\/en\/oil-below-two-year-highs\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\",\"name\":\"administrator\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/901309319175b0d219e688b01909d220?s=96&d=mm&r=g\",\"caption\":\"administrator\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/2286"}],"collection":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/comments?post=2286"}],"version-history":[{"count":0,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/2286\/revisions"}],"wp:attachment":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/media?parent=2286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/categories?post=2286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/tags?post=2286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}