Siim, Author at EmeraldBay Trading

Crude Oil Inventories Rise By 3.2 Million Barrels, Exceeding Analyst Expectations

Crude oil imports averaged 6.7 million bpd, rising by 424,000 bpd from the previous week. Strategic Petroleum Reserve increased from 362.3 million barrels to 363.1 million barrels as U.S. continued to buy oil for strategic reserves. The purchases of oil for SPR have served as a material positive catalyst for oil markets this year. Domestic […]

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Oil retreats with US stockpile crushing bullish bets for now

Uncategorized / By Siim

WTI Oil retreats below $82 on chunky increase in US crude stockpiles. Oil traders remain bullish, but the US stockpile build-up is triggering a repricing. The US Dollar Index trades above 104.00 and sees US Dollar bulls digging in their heels. Oil prices are retreating on Wednesday, with traders gasping for air after seeing the

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Oil Updates – crude rises as heightened geopolitical risks exacerbate supply concerns

Uncategorized / By Siim

UAE’s abroad investments performing well despite economic headwinds: top official RIYADH: The UAE has strengthened its position in the global economy, with its overseas investments proving resilient amid economic fluctuations, said a senior official. Jamal Bin Saif Al-Jarwan, secretary-general of the UAE International Investors Council, stated that the Emirate’s assets abroad, both government and private,

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Oil eases on possible Gaza ceasefire, dollar strength

Uncategorized / By Siim

By Florence Tan and Laila Kearney SINGAPORE, March 22 (Reuters) – Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude LCOc1 futures fell 42 cents, or 0.5%,

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Egypt raises fuel prices by 9-22% to align with global market, currency reforms

Uncategorized / By Siim

The Egyptian government announced on Thursday an increase in fuel prices by between 9-22%, citing rising global oil prices and the recent liberalization of the Egyptian pound’s exchange rate. The decision, implemented by the Egyptian Petroleum Pricing Committee, reflects adjustments across various fuel types. The price of 80-octane petrol will rise by EGP 1 to

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WTI continues its winning streak amid heightened concerns over supply, climbs to $80.90

Uncategorized / By Siim

WTI price appreciation following Ukrainian attacks on Russian refineries. Ukraine has declared not to extend a five-year agreement with Russia’s Gazprom. Israeli Prime Minister Benjamin Netanyahu has affirmed to proceed with plans to expand into Gaza’s Rafah enclave. West Texas Intermediate (WTI) oil price continues its upward trajectory, reaching around $80.90 per barrel during the

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Oil Could Rise More than Anyone Expects This Year

Uncategorized / By Siim

Oil prices have been strengthening over the past few weeks. The trend is not of particularly noticeable proportions, with Brent still stuck in the low $80s and West Texas Intermediate hovering around $80 per barrel. This could change later in the year, however, Morgan Stanley’s global oil strategist Martijn Rats has predicted. In fact, prices

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Bloomberg Survey: Brent To Exceed $80 By Year’s End

Uncategorized / By Siim

Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info By Julianne Geiger – Mar 15, 2024, 2:30 PM CDT The Brent crude oil benchmark is set to exceed $80 per barrel by the end of this year, according to a

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Brent Soars Past $85 As IEA Recalculates Supply, Demand

Uncategorized / By Siim

Tom Kool Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com’s Head of Operations More Info By Tom Kool – Mar 14, 2024, 2:45 PM CDT Crude oil prices hit a four-month high on Thursday, with the U.S. benchmark crossing over the $80 mark and Brent passing $85 per barrel

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Petrol Price Likely to Increase Rs. 1 form 16th March

Uncategorized / By Siim

There’s speculation circulating that within the next 15 days, the cost of petrol may increase across the country, pending a decision from the Prime Minister’s office. This decision holds significant sway over adjustments to petroleum product prices. Recent reports from various media outlets indicate a surge in global crude oil prices over the past fortnight.

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Author name: Siim

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