Oil is adjusted down in the $ 90 direction
Oil price (April Futures Brent) on Tuesday February 8 to 14.47 GMT + 3 Fallen by 1.9% to 90.9 dollars per barrel brand Brent. Thus, oil quotes after attempts to fasten the above psychologically significant level of $ 90 roll back to test it now as support. Market participants analyze news from negotiations on the Iranian nuclear transaction. The US President Administration Bayden took part of the sanctions concerning the activity in the field of civilian atomic energy from Tehran.
Exceptions from sanctions closer to the parties to the possible restoration of the international transaction 2015. Then the United States will allow foreign companies and representatives to work on some civilian nuclear facilities of Iran. Thus, the sanctions of the administration of the previous president of the Trmpa, introduced in 2020, will be canceled, writes The Wall Street Journal. This will lead to an increase in the supply of Iranian oil to the global market.
Meanwhile, Saudi Aramco raised oil sales prices in March. For Asian consumers Arab variety Light went up by 60 cents against February. Thus, the premium on this variety to the indicative rose to $ 2.8 per barrel, which is a record from March 2020. Saudi Aramco also raised prices for other grades of their oil for Asia – by 40-70 cents per barrel. The decision was expected, however, the increase in prices for 1.70 dollars per barrel for Europe was particularly significant.
Construction and commissioning of the 6th production line of the Natural Gas Liqueness Project (LNG) Sabine Pass LNG completed, said American Cheniere Energy Inc. – The largest manufacturer of LNG in the United States.
Thus, now all 6 Lines of the Sabine Pass project are built, with ahead of schedule and within the budget. Cheniere Energy belongs to the Sabine Pass Terminal in Louisiana, which now employs these 6 production lines with a project capacity of about 30 million tons of LNG per year. In the state of Texas, the company has a Corpus Christi project, within which 3 lines with a capacity of 15 million tons per year were commissioned. At the same time it is planned to expand the power of this. Plant for about 10 million tons of LNG per year in the framework of the Corpus Christi Stage 3 project, which implies the construction of another 7 lines of the medium tonnade.