What Recep Tayyip Erdoğan expects from Abdulhamit Khan, whose drill has the ability to reach a depth of 12 thousand meters, is the extraction of natural gas and oil. And the Turkish President believes that with the will of Allah this will be accomplished. For Erdogan, the discovery of natural gas as well as oil […]
Tag: oil
Oil: With gains for the third day in a row, it collected weekly losses to 1.5%
Oil prices erased intra-session losses of as much as -2%, closing in positive territory for a third consecutive day and capping their losses for the week. In particular, the slow type West Texas Intermediate added on Friday 27 cents or 0.3%, to set its price at $90.77 per barrel. This was the highest close for […]
Inflation is easing, but prices remain high
By Tasos Dasopoulos The economic staff is now focusing its attention on the price level and mainly on its effect on incomes, the real economy and the GDP, for the planning of the new package of business and household support measures which will be announced next month. The normalizing trend in the harmonized index of […]
Brent oil forecasts are revised down to $100 in the third quarter and $97 in the fourth quarter – ING
Russian oil production requires a rethink of crude. ING strategists have revised their forecasts downwards. Oil prices will remain high “Russia’s stubborn oil production and weaker-than-expected demand growth mean the oil market is likely to remain in surplus for the rest of this year and early next, which should limit the rise in oil prices. […]
Sanctions against Russia are driving up the prices of older tankers
The fallout from Russia’s invasion of Ukraine continues to roil the shipping market, with more and more older tankers being used on the lucrative route of transporting Russian oil to China and India. As Bloomberg reports, at least four tankers aged 15 and older have joined the fleet of vessels delivering Russian oil from the […]
Oil rallies to $100 as US gas consumption rises
With a strong rise reaching 4%, oil prices are moving against the background of the increased consumption shown by the figures in the USA, while the c.g. of OPEC says risks to global demand are probably overstated. In particular, his contract Brent for October delivery is negotiated at 97.3 dollars the rising barrel 3.9% or […]
Oil closed strongly higher (+3%), boosted by increased gasoline consumption in the US
LAST UPDATE: 22.32 International oil prices closed with a strong rise of around 3% on Thursday, against the background of the increased consumption shown by the data in the USA, while the g.y. of OPEC says risks to global demand are probably overstated. In particular, the global benchmark, Brent oil for October delivery trades in […]
Yeni Şafak targets Greek shipowners: ‘Everything for free for Athens’
The fact that the fleet of Greek shipowners has increased since the beginning of the year is highlighted on today’s front page by the Turkish fanatically pro-government newspaper Yeni Şafak. Yeni Şafak’s front page headlined “All free for Athens” With the propaganda headline “Everything is free for Athens: Greece bought 183 ships for Russian oil”, […]
Russia – Iran: An alliance on the brink of… oil
By Ariel Cohen The war in Ukraine forces Russia to reach out to rogue states: Belarus, Iran, North Korea and Venezuela, among others. This is probably not the multipolar world envisioned by Vladimir Putin, and before him by “geopolitical mastermind” Yevgeny Primakov – but that’s how it is. The Russian president met his Iranian and […]
Crude rally boosted by inventory data
Oil prices ended higher on Wednesday after three straight sessions of losses, as government data released today revealed that domestic stockpiles fell last week, beating analysts’ estimates. In particular, crude oil inventories fell by 7.1 million barrels for the week ended August 12, as announced by the US Energy Administration (EIA). It is noted that […]
