As bullish sentiment continues to build and Brent settles comfortably above the $90 mark, oil prices look set to continue to climb this week. – German industrial production finally broke through the cycle of gloom after it posted a 2.1% increase in February, well above the consensus expectation of a 0.5% rise month-over-month. – Although Germany’s manufacturing […]
Brent Could Climb to $95 as Bullish Sentiment Builds Read More »
The recent rise in oil prices has raised the prospect of $100 per barrel but Nigeria, the largest producer of the commodity in Africa, may not reap a windfall, according to BusinessDay findings. Brent crude, the global benchmark against which Nigeria’s crude oil is priced, rose to $91 per barrel on Tuesday, taking its gains
Nigeria risks missing out as $100 oil beckons Read More »
Oil drilling rigs Oil prices rose today, April 9, as Middle East ceasefire hopes waned and Mexico announced a plan to cut oil exports to global markets. Brent crude futures rose 0.31%, or $0.28, to $90.66 a barrel, at 1002 GMT. Similarly, futures prices for US West Texas Intermediate (WTI) crude gained 0.28%, or $0.24,
Oil turns higher as Mexico plans to slash exports Read More »
The oil industry’s prospects appear bright, owing to increasing oil demand, geopolitical tensions, and supply-cut expectations driving oil prices up. Against this backdrop, quality oil stocks BP p.l.c. (BP), Petróleo Brasileiro S.A. – Petrobras (PBR), and Cheniere Energy Partners, L.P. (CQP) could be watched for returns in April. Read on…. The increasing oil demand for
3 Oil Stocks to Watch for Returns in April Read More »
Russia reported a sharp increase in revenue in the first quarter due in part to one-time tax payments and rising oil prices as the country continues to weather sanctions over its war in Ukraine. Author of the article: Bloomberg News Bloomberg News Published Apr 08, 2024 • Last updated 7 hours ago • 2 minute read
Russia’s Revenue Jumps in First Quarter Amid Rising Oil Prices Read More »
By Julianne Geiger – Apr 05, 2024, 12:12 PM CDT The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday, falling by 1. U.S. drillers saw a total loss of rigs this year of 2. The
U.S. Drilling Activity Slips Further As Oil Prices Rise Read More »
By ZeroHedge – Apr 05, 2024, 10:00 AM CDT The national average gas price has hit $3.57 per gallon, up from $3.10 at the start of the year. The current average price is 20 cents higher than one month ago and 7.2 cents higher than at this time last year. Analysts warn that prices could
U.S. Drivers Feeling the Pinch at the Pump as Gas Prices Soar Read More »
The Mexican Peso rises to a nine-year high versus USD on Friday. The release of Banxico’s March meeting minutes may have helped spur the Peso to more gains. Higher crude Oil prices, a key Mexican export, could also be supporting MXN. The Mexican Peso (MXN) trades at nine-year highs against the US Dollar (USD) on Friday
Mexican Peso rises to nine-year high against USD Read More »
Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve. Brent crude climbed 40 cents, or 0.4%, to $91.05 a barrel by 0425 GMT. US West Texas Intermediate
Oil heads for second weekly gain on geopolitical tension, supply concerns Read More »
Asian shares retreated on Friday as hawkish comments from some Federal Reserve officials and escalating geopolitical tensions put a dent in risk sentiment, while traders were also cautious ahead of U.S. jobs data due later in the day. The threat of supply disruptions owing to a prolonged conflict in the Middle East kept Brent futures
Asia stocks stumble on risk-off mood; oil prices climb Read More »
