{"id":2483,"date":"2014-12-05T07:35:49","date_gmt":"2014-12-05T12:35:49","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2483"},"modified":"2014-12-05T07:35:49","modified_gmt":"2014-12-05T12:35:49","slug":"brent-falls-close-to-69-after-saudi-price-cut-reuters","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2483","title":{"rendered":"Brent falls close to $69 after Saudi price cut | Reuters"},"content":{"rendered":"<p><a href=\"http:\/\/www.reuters.com\/article\/2014\/12\/05\/us-markets-oil-idUSKCN0JJ07420141205\">Brent falls close to $69 after Saudi price cut | Reuters<\/a>.<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">(Reuters) &#8211;\u00a0<span class=\"mandelbrot_refrag\"><a class=\"mandelbrot_refrag\" style=\"color: #006e97; text-decoration: none; cursor: pointer; outline-style: none; outline-width: initial; outline-color: initial;\" href=\"http:\/\/reuters.com\/finance\/commodity?symbol=GB@IB.1&amp;lc=int_mb_1001\" data-ls-seen=\"1\">Brent crude<\/a><\/span>\u00a0fell close to $69 a barrel on Friday, putting it on track for a second weekly decline, as cuts to official selling prices from\u00a0<span class=\"mandelbrot_refrag\"><a class=\"mandelbrot_refrag\" style=\"color: #006e97; text-decoration: none; cursor: pointer; outline-style: none; outline-width: initial; outline-color: initial;\" href=\"http:\/\/www.reuters.com\/places\/saudi-arabia?lc=int_mb_1001\" data-ls-seen=\"1\">Saudi Arabia<\/a><\/span>\u00a0reverberated across the market.<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">Some analysts said the Saudi cuts to monthly prices for crude it sells to the United States and Asia show it is stepping up its battle for market share a week after refusing to support OPEC output cuts.<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">&#8220;It&#8217;s been weighing on the market, showing that OPEC is not ready to end its price war,&#8221; said Commerzbank analyst Eugen Weinberg. &#8220;The lower the better seems to be the new paradigm for OPEC.&#8221;<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">The January\u00a0<span class=\"mandelbrot_refrag\"><a class=\"mandelbrot_refrag\" style=\"color: #006e97; text-decoration: none; cursor: pointer; outline-style: none; outline-width: initial; outline-color: initial;\" href=\"http:\/\/reuters.com\/finance\/commodity?symbol=GB@IB.1&amp;lc=int_mb_1001\" data-ls-seen=\"1\">Brent crude<\/a><\/span>\u00a0contract LCOc1 dropped 53 cents to $69.11 a barrel by 0926 GMT.\u00a0<span class=\"mandelbrot_refrag\"><a class=\"mandelbrot_refrag\" style=\"color: #006e97; text-decoration: none; cursor: pointer; outline-style: none; outline-width: initial; outline-color: initial;\" href=\"http:\/\/www.reuters.com\/finance\/commodity?symbol=US@cl.1&amp;lc=int_mb_1001\" data-ls-seen=\"1\">U.S. crude<\/a><\/span>\u00a0CLc1 was down 55 cents at $66.26.<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">A strong dollar, which recently hit two-year highs versus the euro, is another bearish factor for oil prices, as its strength makes dollar-denominated crude more expensive in other currencies.<\/p>\n<p style=\"font-size: 15px; font-family: georgia, 'times new roman', serif; line-height: 23px; padding: 0px; margin: 0px 0px 20px 0px;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brent falls close to $69 after Saudi price cut | Reuters. (Reuters) &#8211;\u00a0Brent crude\u00a0fell close to $69 a barrel on Friday, putting it on track for a second weekly decline, as cuts to official selling prices from\u00a0Saudi Arabia\u00a0reverberated across the market. Some analysts said the Saudi cuts to monthly prices for crude it sells to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[589,592,596,600],"class_list":["post-2483","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-demand","tag-oil-price","tag-oil-supply","tag-opec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2483"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2483\/revisions"}],"predecessor-version":[{"id":2484,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2483\/revisions\/2484"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}