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Claudio Galimberti - 6 Galimberti - 3 Brent - 3 Trixie Yap - 3 CNBC's - 2 Sonali Paul - 2 Katya Golubkova - 2 Bjarne Schieldrop - 1
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Search resuls for: "Claudio Galimberti"


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☆ U.S. crude oil rises for third day as traders fear Middle East escalation that disrupts supplies
  + stars: | 2024-10-03 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +1 min
U.S. crude oil prices rose nearly 2% on Thursday for a third consecutive session of gains, as the market braces for Israel to retaliate against Iran. The risk of oil supply disruptions increases as fighting in the Middle East intensifies, but OPEC+ is sitting on a large amount of spare crude that could step into the breach, according to Claudio Galimberti, chief economist at Rystad Energy. U.S. crude oil has gained 5% this week. "That would add a significant risk premium to oil," he told CNBC's "Street Signs Europe." As a consequence, oil prices could surge to $200 per barrel if Israel hits Iran's oil infrastructure, he said.
Persons: Claudio Galimberti, Galimberti, Bjarne Schieldrop, Schieldrop, CNBC's Organizations: Rystad Energy Locations: Israel, Iran, OPEC, Swedish, Strait, Hormuz
☆ Don't think we will see oil at $60/bbl 'in a consistent manner' for the next 3 months: Rystad Energy
  + stars: | 2024-09-11 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDon't think we will see oil at $60/bbl 'in a consistent manner' for the next 3 months: Rystad EnergyClaudio Galimberti of Rystad Energy shares his outlook and discusses the impact a potential second Trump administration will have on oil prices.
Persons: Claudio Galimberti, Trump Organizations: bbl, Rystad, Rystad Energy
☆ U.S. crude oil rebounds more than 2%, trades above $67 a barrel after steep selloff
  + stars: | 2024-09-11 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +1 min
U.S. crude oil rebounded more than 2% on Wednesday, regaining some ground after prices closed at the lowest level in nearly three years in the previous session. Here are Wednesday's energy prices:The steep selloff Tuesday came after OPEC lowered its demand growth outlook for the second time in two months, and as China crude oil imports slow in 2024. Some traders are worried about Brent prices heading toward $60 per barrel, but this level of bearishness is unwarranted, Galimberti said. Supply and demand fundamentals point toward stockpiles falling, and prices can only rise if China's economy rebounds and OPEC+ complies with its own production quotas, the analyst said. "We don't think we're going to see $60 per barrel in a consistent manner for the next three months."
Persons: Claudio Galimberti, CNBC's, Brent, Galimberti Organizations: OPEC, Traders, Rystad Energy, Supply Locations: China
☆ Oil falls on China worries despite tighter US supply
  + stars: | 2023-08-16 | by ( Trixie Sher Li Yap | ) www.reuters.com   time to read: +3 min
China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. "Concerns that China's faltering economy will weigh on demand offset tight supply in the oil market," ANZ analysts said in a client note. "Crude inventories at the Cushing hub are seen to be falling to their lowest level since April. U.S. crude stocks dropped by about 6.2 million barrels last week, according to market sources citing American Petroleum Institute figures. Supply cuts by Saudi Arabia and Russia, part of the OPEC+ group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, have pushed up oil prices over the past seven weeks.
Persons: Chen Aizhu, Cushing, Rystad, Claudio Galimberti, Arathy Somasekhar, Trixie Yap, Sonali Paul Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Brent, U.S, West Texas, ANZ, American Petroleum Institute, Reuters, National Australia Bank, of, Petroleum, Thomson Locations: China, Dalian, Liaoning province, Beijing, Saudi, Saudi Arabia, Russia, OPEC, Houston, Singapore
☆ Oil perched between demand concerns and supply strains
  + stars: | 2023-07-19 | by ( Natalie Grover | ) www.reuters.com   time to read: +2 min
LONDON, July 19 (Reuters) - Global oil prices were little changed on Wednesday as markets weighed U.S. demand concerns against China's pledge to support economic growth. Brent futures were flat at $79.63 a barrel by 0800 GMT, while U.S. West Texas Intermediate (WTI) crude edged 10 cents lower to $75.65 per barrel. "With the Fed likely to raise interest rates for the last time in July, concerns about U.S. demand that will limit oil price gains are likely to remain," said CMC Markets analyst Leon Li. However, on the positive front, China's top economic planner pledged on Tuesday it would roll out policies to "restore and expand" consumption in the world's second-largest economy, which could boost oil demand. On the supply side, data from the American Petroleum Institute (API), an industry group, showed crude oil, gasoline and distillate inventories all fell last week.
Persons: China's, Brent, Leon Li, Claudio Galimberti, John Evans, Natalie Grover, Katya Golubkova, Trixie Yap, Jamie Freed, David Holmes Organizations: U.S, West Texas, American Petroleum Institute, Thomson Locations: China, Europe, America, Russia, London, Tokyo, Singapore
☆ Oil rises as hawkish Fed talk expectations outweigh Chinese demand worries
  + stars: | 2023-06-21 | by ( Trixie Sher Li Yap Katya Golubkova | Trixie Sher Li Yap | Katya Golubkova | ) www.reuters.com   time to read: +3 min
June 21 (Reuters) - Oil prices rebounded early on Wednesday, recovering after two straight sessions of losses, as expectations of hawkish Fed talk later in the afternoon and possible U.S. crude stock draws in outweighed China demand worries. Concerns about demand recovery in China, the world's top oil importer, limited price gains as its economy struggles. "The only reason why I think prices are not climbing (steadily) yet is because the data from China is still unclear. "As for the Fed (meeting), that is also uncertain but with latest inflation data coming in a 4%, they have room to be dovish," Galimberti added. Looking to boost growth, China on Tuesday cut its benchmark loan prime rates (LPR) for the first time in 10 months, with a smaller-than-expected 10-basis-point reduction in the five-year LPR.
Persons: Brent, Powell, Jerome Powell, Claudio Galimberti, Galimberti, Katya Golubkova, Trixie Yap, Sonali Paul, Kim Coghill Organizations: Fed, . West Texas, ANZ Research, Market Committee, U.S . Federal, Federal Reserve, Reuters, American Petroleum Institute, Energy, Administration, Thomson Locations: China, Washington, U.S, Tokyo, Singapore
☆ Oil drops, hits lowest since January as U.S. data fans fuel demand fears
  + stars: | 2022-12-07 | by ( Arathy Somasekhar | ) www.reuters.com   time to read: +3 min
The build in fuel stocks outweighed a 5.2 million barrel draw in crude stocks. The American Petroleum Institute had reported a crude stocks draw of around 6.4 million barrels, according to market sources. China's crude oil imports in November rose 12% from a year earlier to their highest in 10 months, data showed. "If confidence in uninterrupted Russian oil supply has played any part in the recent weakness, it was probably misplaced. Tankers getting delayed in Turkish waters is a prime example of that," Tamas Varga of oil broker PVM said.
☆ Oil falls close to 2022 lows on economic worries, easing supply fears
  + stars: | 2022-12-07 | by ( Alex Lawler | ) www.reuters.com   time to read: +2 min
Warnings from big U.S. banks about a likely recession next year weighed, and supported the U.S. dollar. A stronger dollar makes oil more expensive for holders of other currencies and tends to dampen appetite for risk assets. Fears were easing that the price cap on Russian crude could cause a supply shock. "Clearly, investors are not worried the least about any potential supply shortage that might be the result of the price cap and the EU ban on Russian oil sales." In focus is the latest U.S. supply report from the Energy Information Administration due at 1530 GMT and whether it confirms the large decline in crude stocks.
☆ Oil steady as China revival hopes offset Russia uncertainty
  + stars: | 2022-12-07 | by ( Trixie Sher Li Yap | ) www.reuters.com   time to read: +4 min
Brent crude futures edged up 3 cents, or 0.04%, to $79.38 a barrel by 0717 GMT, after they fell below $80 for the second time in 2022 during the previous trading session. U.S. crude futures mostly traded sideways, and were down 9 cents or 0.12% to $74.16 a barrel. "China has (been) rapidly eased COVID-19 restrictions, which may boost demand," markets analyst Leon Li at CMC Markets said in a note. The reopening could see a 1% boost to global oil demand, ANZ said in a client note. Oil prices have dropped by more than 1% for three straight sessions, giving up most of their gains for the year.
☆ Oil edges up on China demand hopes; Russian uncertainty weighs
  + stars: | 2022-12-07 | by ( Laura Sanicola Trixie Sher Li Yap | Laura Sanicola | Trixie Sher Li Yap | ) www.reuters.com   time to read: +3 min
SINGAPORE, Dec 7 (Reuters) - Oil futures edged slightly higher on Wednesday on hopes for improved Chinese demand while uncertainty about how a Western cap on Russian oil prices would play out kept markets on edge after a sharp fall the previous session. U.S. crude futures clawed back earlier losses and were steady from the previous close at $74.25 a barrel. "China has (been) rapidly eased COVID-19 restrictions, which may boost demand," markets analyst Leon Li at CMC Markets said in a note. However, uncertainty on how the price cap on Russian oil would play out on supply contributed to volatility. Oil prices have dropped by more than 1% for three straight sessions, giving up most of their gains for the year.
☆ Oil gives up the year's gains, closing at 2022 low
  + stars: | 2022-12-07 | by ( ) www.cnbc.com   time to read: +3 min
U.S. West Texas Intermediate crude fell $2.24, weakening further from Tuesday's close, which was already a yearly low, to $72.01 a barrel. The country's crude oil imports in November rose 12% from a year earlier to their highest in 10 months, data showed. G7 nations kicked off implementation of a price cap to restrict Russian exports that could cause that nation to reduce output in the coming year. The build in fuel stocks outweighed a 5.2 million barrel draw in crude stocks. The American Petroleum Institute had reported a crude stocks draw of around 6.4 million barrels, according to market sources.
☆ OPEC+ to consider deeper oil output cuts ahead of Russia sanctions and proposed price cap
  + stars: | 2022-12-02 | by ( Sam Meredith | ) www.cnbc.com   time to read: +5 min
The highly anticipated meeting comes ahead of potentially disruptive sanctions on Russian oil, weakening crude demand in China and mounting fears of a recession. Concern that an outright ban on Russian crude imports could send oil prices soaring, however, prompted the G-7 to consider a price cap on the amount it will pay for Russian oil. "The other factor OPEC will need to consider is indeed the price cap," Galimberti said. The Kremlin has previously warned that any attempt to impose a price cap on Russian oil will cause more harm than good. The energy alliance recently hinted it could impose deeper output cuts to spur a recovery in crude prices.
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