Argon futures closed trading with a positive sign, after announcements of the US Federal Reserve. World benchmark British Brent crude for February delivery was up 0.24% at $ 73.88 a barrel, recovering from a small loss on Tuesday. West Texas Intermediate crude for January delivery was up 0.2% at $ 70.87 a barrel. Earlier in […]
Tag: oil
IEA: The appearance of the Omicron mutation will affect oil demand
The emergence of the Omicron mutation will allow oil supply to surpass the rate at which people consume oil, easing supply constraints in recent months, according to the International Energy Agency (IEA). The IEA cut its oil supply estimates from non-OPEC producers by 100,000 barrels per day and cut its demand estimates by the same […]
Saudi Arabia warns of 30% drop in global oil production by end of decade
Saudi Arabia has announced that global oil production could fall by 30% by the end of the decade due to declining investment in fossil fuels. “We are entering a phase that could be dangerous if there is not enough energy spending,” said Oil Minister Abdulaziz bin Salman. The result could be an “energy crisis”, he […]
Iran: Next year’s budget costs $ 60 a barrel
The budget for next year in Iran is based on the cost of oil at $ 60 a barrel, from $ 40 this year, Bloomberg reported, citing the semi-official Fars news agency. The country expects to export about 1.2 million barrels of oil per day next year starting March 21, Fars reported, according to the […]
Rally over 7.5% for oil per week
Oil prices closed with gains on Friday, widening the “black gold” rally in the week, leading it to the biggest rise on a 5-day basis since the end of August. Oil is on a strong uptrend as concerns about the impact of the new Omicron mutation on economic activity and energy demand are easing, but […]
Close to the biggest weekly rise since August oil
Oil is heading for its biggest weekly rise in more than three months, following fears about the Omicron mutation, although traders remain worried about the outlook for demand, Bloomberg reported. WTI futures rose 7.4% this week, as fuel consumption has so far not been hit hard by the Omicron mutation. However, the climate remains fragile […]
Oil: Returned from two-week highs with losses of 2%
Oil price gains break, which fell on Thursday after a three-day uptrend, falling from a two-week high yesterday. “Uncertainty about the Omicron mutation and concerns about declining demand for crude oil have disrupted the ‘black gold’ rally,” said Edward Moya, an Oanda analyst. with Pfizer and BioNTech announcing the results of a week-long study showing […]
At a two-week high the oil closed
Oil prices closed with gains on Wednesday, finding support from a series of news indications that the Omicron mutation may not upset economies as much as the market is worried. In particular, the results of an “initial laboratory study” announced by Pfizer and BioNTech today showed that their covid-19 vaccine neutralizes the Omicron mutation after […]
Saudi Arabia raises oil prices for US and Asia
Saudi Arabia has pushed up oil prices for buyers in Asia and the United States, in a sign that it sees demand remain strong despite the spread of the coronavirus’s Micron mutation, according to Bloomberg. This move comes a few days after OPEC + surprised traders with its decision to increase crude production, by 400,000 […]
The biggest downward trend since 2018 for oil in the week – ‘slump’ 25% natural gas
A mixed picture in Friday’s meeting on oil prices, however on a weekly basis Brent and US crude recorded significant losses. This was the sixth consecutive week of losses for black gold, in the biggest declining series at 5-day level since 2018. Uncertainty set the tone for this week’s negotiations. OPEC + may have reached […]
