Oil drilling rigs Oil prices declined on Friday, but they are heading for their second straight weekly gain, supported by positive economic data and eased recession concerns. Brent crude futures for October delivery fell 0.36%, or $0.29, to $80.75 a barrel, at 08:21 Makkah time. Similarly, futures prices for US West Texas Intermediate (WTI) crude […]
Oil prices fall, on track for second straight weekly gain Read More »
Oil prices are slowly but surely recovering after four consecutive weeks of declines, with Brent nearing $80 as geopolitical risk and demand optimism boost bullish sentiment. Friday, August 9th, 2024 Recovering from Monday’s giant stock selloff, oil prices are set for a much-needed weekly gain after four straight week-over-week losses as ICE Brent flirts with
Brent Flirts With $80 as Recession Fears Ease Read More »
Chinese consumer electric vehicle sales rose 28.6% year-on-year in July to overtake sales of internal combustion engine vehicles for the first time in history, the China Passenger Car Association said on Thursday. This represented an EV penetration rate of 51.1%, which officially means that EVs are going mainstream over gasoline vehicles in the world’s largest
EVs overtake monthly gasoline car sales for first time in China Read More »
Oil prices are sinking just less than 3% on Monday, with US markets taking over the sour tone from Asia and Europe in its first day of trading for this week. The Japanese stock market performance was a sign on the wall with its worst performance since… https://www.fxstreet.com/news/oil-sinks-despite-geopolitical-turmoil-overhang-202408051030
Oil steadies decline despite US equity joining Monday selloff Read More »
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Oil prices on track for 4th straight weekly decline on worries over demand Read More »
Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com, More Info Premium Content By Michael Kern – Aug 02, 2024, 9:16 AM CDT Oil prices were dropping on Friday morning as traders returned to focus on demand concerns in the light of no immediate escalation in the Middle East following Iran’s
Oil Prices Fall Back as Demand Concerns Return Read More »
By Editorial Dept – Aug 02, 2024, 8:00 AM CDT The crude oil market experienced significant volatility this week, with prices spiking due to a combination of geopolitical tensions and supply concerns, but ultimately being held back by demand uncertainty. Middle East Powder Keg Ignites Oil Rally The week began with oil prices edging lower,
A Week of Turmoil in Oil Markets Read More »
ABUJA – Transitioning to a green economy has been identified as one of the avenues for diversifying Nigeria’s economy base, job creation, reducing dependence on fossil fuels and enhancing resilience against global oil price volatility. The Director-General of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, stated this while speaking as the guest speaker at
Green Economy Will Drive Diversification, Create Jobs – SEC DG Read More »
By Editorial Dept – Jul 26, 2024, 7:00 AM CDT Oil Market Rollercoaster: A Week of Twists and Turns The crude oil market experienced a turbulent week, with prices oscillating as traders weighed economic data, global events, and supply-demand shifts. The week began cautiously, saw a mid-week upturn, and then faced renewed pressure as various
A Volatile Week for Oil Prices Read More »
In short: Australian olive growers have had a patchy season due to poor weather and impacts from pests. The shortfall could make the already competitive olive oil market even tighter. What’s next? Some olive growers are turning away customers to make their supply last longer. Australian growers have had a difficult olive season, contributing to
