{"id":72046,"date":"2023-10-12T23:13:36","date_gmt":"2023-10-13T03:13:36","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/oil-climbs-as-u-s-sanctions-stockpile-forecasts-raise-supply-concerns\/"},"modified":"2023-10-12T23:13:39","modified_gmt":"2023-10-13T03:13:39","slug":"oil-climbs-as-u-s-sanctions-stockpile-forecasts-raise-supply-concerns","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=72046","title":{"rendered":"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns"},"content":{"rendered":"
\n

By Katya Golubkova<\/p>\n

TOKYO (Reuters) – Oil prices rose on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising supply concerns in an already tight market, and global inventories are forecast to decline through the fourth quarter.<\/p>\n

futures rose 36 cents, or 0.4%, to $86.36 per barrel and U.S. West Texas Intermediate (WTI) crude gained 53 cents, or 0.6%, to $83.44 a barrel at 0052 GMT. <\/p>\n

Brent is set for a weekly gain of 2.1%, while WTI is set to climb 0.8% for the week, after both contracts surged on Monday on the potential for disruptions to Middle Eastern exports after Hamas’ attack on Israel over the weekend threatened a possible wider conflict.<\/p>\n

Prices gave back some of those gains during week. But, on Thursday, the U.S. imposed the first sanctions on owners of tankers carrying Russian oil priced above the G7’s price cap of $60 a barrel, to close loopholes in the mechanism designed to punish Moscow for its invasion of Ukraine. <\/p>\n

Russia is the world’s second-largest oil producer and a major exporter and the tighter U.S. scrutiny of its shipments could curtail supply.<\/p>\n

Also on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) kept its forecast for growth in global oil demand, citing signs of a resilient world economy so far this year and expected further demand gains in China, the world’s biggest oil importer.<\/p>\n

“Supply side issues remained the focus in the market,” Daniel Hynes, senior commodity strategist at ANZ, said in a note on Friday, adding that prices during early trade on Friday rose on the stronger U.S. sanctions enforcement. <\/p>\n

“Sentiment was also boosted after OPEC said it expects crude stockpiles to slump by 3 (million barrels per day) this quarter. That assumes that there are no further supply disruptions emanating from the Israel-Hamas war,” Hynes said. <\/p>\n

Markets are awaiting data on China’s producer price index, consumer price index and trade activity in September that is due later on Friday for further signs where the world’s second-biggest economy is heading. <\/p>\n

(This story has been refiled to add dropped words in paragraph 5) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Katya Golubkova TOKYO (Reuters) – Oil prices rose on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising supply concerns in an already tight market, and global inventories are forecast to decline through the fourth quarter. futures rose 36 cents, or 0.4%, to $86.36 per barrel and U.S. West Texas […]<\/p>\n","protected":false},"author":1,"featured_media":13629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-72046","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nOil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Katya Golubkova TOKYO (Reuters) - Oil prices rose on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=72046\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"By Katya Golubkova TOKYO (Reuters) - Oil prices rose on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=72046\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-13T03:13:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-13T03:13:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEC0G0AA_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=72046#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=72046\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns\",\"datePublished\":\"2023-10-13T03:13:36+00:00\",\"dateModified\":\"2023-10-13T03:13:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=72046\"},\"wordCount\":365,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=72046#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=72046\",\"url\":\"https:\/\/ifintechworld.com\/?p=72046\",\"name\":\"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-13T03:13:36+00:00\",\"dateModified\":\"2023-10-13T03:13:39+00:00\",\"description\":\"By Katya Golubkova TOKYO (Reuters) - Oil prices rose on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=72046#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=72046\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=72046#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns | iFintechWorld","description":"By Katya Golubkova TOKYO (Reuters) - Oil prices rose on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=72046","og_locale":"en_US","og_type":"article","og_title":"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns | iFintechWorld","og_description":"By Katya Golubkova TOKYO (Reuters) - Oil prices rose on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising","og_url":"https:\/\/ifintechworld.com\/?p=72046","og_site_name":"iFintechWorld","article_published_time":"2023-10-13T03:13:36+00:00","article_modified_time":"2023-10-13T03:13:39+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEC0G0AA_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=72046#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=72046"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns","datePublished":"2023-10-13T03:13:36+00:00","dateModified":"2023-10-13T03:13:39+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=72046"},"wordCount":365,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Commodities"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=72046#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=72046","url":"https:\/\/ifintechworld.com\/?p=72046","name":"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-13T03:13:36+00:00","dateModified":"2023-10-13T03:13:39+00:00","description":"By Katya Golubkova TOKYO (Reuters) - Oil prices rose on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=72046#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=72046"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=72046#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/72046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=72046"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/72046\/revisions"}],"predecessor-version":[{"id":72047,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/72046\/revisions\/72047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/13629"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=72046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=72046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=72046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}