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 […]
Oil retreats with US stockpile crushing bullish bets for now Read More »
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Oil prices end higher, buoyed by geopolitical tensions, Russia’s output cuts Read More »
Alex Kimani Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. More Info By Alex Kimani – Mar 25, 2024, 1:30 PM CDT China’s largest oil refining company China Petroleum & Chemical Corp. aka Sinopec, recorded a 13% decline in its 2024 profits due to lower oil and gas prices. Sinopec reported FY 2024 net income
Sinopec’s 2024 Profits Declined 13% After Oil Prices Fell Read More »
By Eurasianet – Mar 25, 2024, 1:00 PM CDT Kazakhstan’s GDP is expected to grow at a moderate pace in the next two years, driven by oil and consumer spending. Inflation is likely to remain above target in the short term, but is projected to decline over time. The World Bank recommends reforms to improve
Black Sea Disruptions, Oil Prices Threaten Kazakhstan’s Growth Read More »
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,
Oil Updates – crude rises as heightened geopolitical risks exacerbate supply concerns Read More »
Charles Kennedy Charles is a writer for Oilprice.com More Info By Charles Kennedy – Mar 22, 2024, 12:30 PM CDT The United States has repeatedly urged Ukraine to halt its drone attacks on Russian oil refineries due to Washington’s assessment that the strikes could led to Russian retaliation and push up global oil prices, the Financial
U.S. Has Urged Ukraine To Stop Attacks on Russian Refineries Read More »
Oil drilling rigs Oil prices declined on Friday, extending their downtrend for the third straight day amid investor anticipation of global interest rates. Futures for Brent crude, scheduled for May delivery, dropped by 0.63%, or $0.54, to $85.24 a barrel, at 10:16 am Makkah time. Similarly, futures prices for US West Texas Intermediate (WTI) crude,
Oil prices decline for third consecutive day Read More »
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%,
Oil eases on possible Gaza ceasefire, dollar strength Read More »
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
Egypt raises fuel prices by 9-22% to align with global market, currency reforms Read More »
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Oil Inches Lower in Cautious Trade Ahead of Fed Meeting Read More »
