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Oil Updates – prices up as Middle East tensions persist, demand concerns cap gains

Oil Updates – prices up as Middle East tensions persist, demand concerns cap gains

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RIYADH: Saudi banks extended loans totaling SR2.62 trillion ($700 billion) in January, marking an 11 percent rise from the same month in 2023, according to official data. Figures released by the Kingdom’s central bank showed an increase in personal loans accounted for 33 percent of this growth, while the remaining 67 percent was attributed to […]

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WTI moves in a tight range before monthly reports from oil agencies, hovers around $77.80

WTI moves in a tight range before monthly reports from oil agencies, hovers around $77.80

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WTI price remains silent ahead of monthly market reports from OPEC, IEA, and EIA. CME FedWatch Tool suggests a 68.9% probability of a rate cut in June. EIA released that US Crude oil production reached a record-breaking average production of 12.9M bpd. West Texas Intermediate (WTI) oil price hovers around $77.80 per barrel during the

WTI moves in a tight range before monthly reports from oil agencies, hovers around $77.80 Read More »

WTI falls to $77.00 on falling Chinese oil imports-led demand concerns

WTI falls to $77.00 on falling Chinese oil imports-led demand concerns

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WTI price extends its losing streak on demand concern following Chinese oil import data. China’s oil imports fell to 10.8 million bpd in the first two months of the year, compared to 11.44 million bpd in December. Crude oil prices could find support from a weakening US Dollar amid growing expectations of a Fed rate

WTI falls to $77.00 on falling Chinese oil imports-led demand concerns Read More »

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