Page 6 - LatAmOil Week 50 2020

LatAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) LatAmOil

NRG: Brent soars

to nine-month high

The benchmark has been supported by further vaccine progress,
US political developments and tensions flaring in the Middle East

COMMENTARY WELCOME to the latest edition of NewsBase’s package are also making progress, albeit slowly.
Roundup Global (NRG), in which our team of The package has also been cut to $748bn, from
international editors provide you with a snap- $908bn previously.
shot of some of the key issues affecting their Instability in the Middle East has also had an
regional beats. Get the NRG Oil & Gas Editor’s impact. Attacks on infrastructure and political
Picks to your inbox every week for free. Just sign unrest have reintroduced an element of geopo-
up here. litical risk into pricing in recent weeks. This week
Brent topped $50 per barrel on December an explosion on an oil tanker in Saudi Arabia has
10 for the first time since March, supported by raised concerns about stability in the Jeddah oil
growing positive sentiment about vaccine devel- hub.
opments. The benchmark regained this level
again on December 14, before dipping slightly AfrOil: Mozambique’s security worries
below the $50 watermark in the early hours of This week’s AfrOil takes a closer look at Mozam-
December 15. bique, where security concerns are on the rise
There are several other factors besides vac- following another round of clashes between
cines that have been pushing oil prices higher. the armed forces and militants attempting to
The US Supreme Court dismissed yet another seize territory in the northern Cabo Delgado
suit to overturn the election results in key swing Province.
states on December 11 and then members of According to press reports, members of Ahlu
the Electoral College on December 14 affirmed Sunnah Wa-Jamo (ASWJ), an Islamist group
President-elect Joe Biden’s victory in a vote. that has links to the Islamic State (Daesh), sought
Negotiations on a bipartisan US stimulus to take control of the village of Mute last week.

P6 www. NEWSBASE .com Week 50 17•December•2020