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OIL: Mid-Day Oil Summary: Crude Regains Ground

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Crude has climbed back into gains on the day amid headlines suggesting that the recently agreed ceasefire between Israel and Hezbollah has already been violated.

  • Brent JAN 25 up 0.8% at 73.38$/bbl
  • WTI JAN 25 up 0.7% at 69.18$/bbl
  • Israel's military said on Thursday that an arrival of suspects, was detected in several areas in southern Lebanon, and called it a violation of a ceasefire with Hezbollah.
  • OPEC+ is to delay the online ministers meeting until Dec. 5, according to Bloomberg citing delegates.
  • The crude options put options bias continues to strengthen despite growing market expectation for another delay to previously planned OPEC+ production hikes.
  • China’s independent refiners have been buying up Middle East and African barrels as Iranian barrels become more expensive according to Kpler tracking.
  • Asia's November crude oil imports edged up to 26.42mbpd in November from 26.11mbpd in October and 26.24mbpd in September, according LSEG data.
  • Nigeria has reduced the official selling price for Qua Iboe crude in December to Dated Brent plus 89 cents/b, the lowest level since July, according to price lists compiled by Bloomberg.
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Crude has climbed back into gains on the day amid headlines suggesting that the recently agreed ceasefire between Israel and Hezbollah has already been violated.

  • Brent JAN 25 up 0.8% at 73.38$/bbl
  • WTI JAN 25 up 0.7% at 69.18$/bbl
  • Israel's military said on Thursday that an arrival of suspects, was detected in several areas in southern Lebanon, and called it a violation of a ceasefire with Hezbollah.
  • OPEC+ is to delay the online ministers meeting until Dec. 5, according to Bloomberg citing delegates.
  • The crude options put options bias continues to strengthen despite growing market expectation for another delay to previously planned OPEC+ production hikes.
  • China’s independent refiners have been buying up Middle East and African barrels as Iranian barrels become more expensive according to Kpler tracking.
  • Asia's November crude oil imports edged up to 26.42mbpd in November from 26.11mbpd in October and 26.24mbpd in September, according LSEG data.
  • Nigeria has reduced the official selling price for Qua Iboe crude in December to Dated Brent plus 89 cents/b, the lowest level since July, according to price lists compiled by Bloomberg.