The US oil giant Chevron turned to incur losses in the fourth quarter of $ 11 million, as lower fuel margins, the costs of acquisitions and the effects of foreign currency overshadowed the improvement in the results of exploration activities. It is expected that oil companies will benefit from the …
Read More »Oil Gains Despite Distribution of Vaccine And New Strains of Coronavirus Faltering
Oil prices rose Monday, February 1, after a weak start, to consolidate the gains it made over the past three months, despite the faltering operations of the distribution of anti-Coronavirus vaccines, new infections and the discovery of new strains casting shadows on demand expectations. Brent crude futures rose 36 cents, …
Read More »Oil Extends Weekly and Monthly Gains
Oil prices rose on, extending their monthly gains in the first month of the year, on the back of hopes for a recovery in the global demand for crude and amid some global supply disruptions. Brent crude futures for March delivery gained 35 cents, or 0.6%, to close at $55.88 …
Read More »Gold Futures Logs First Gains in Seven Sessions
Gold prices rose on Friday, limiting their monthly losses during January, amid a fluctuating performance by the U.S. Dollar (USD) and concerns about the rollout of Coronavirus vaccines. This marked the first gains for the yellow metal most active contracts in seven sessions, after six consecutive declines. Gold futures for …
Read More »U.S. Oil Rig Count Rises for 10th Week in Row
The number of active oil and natural gas rigs increased this week for the tenth consecutive week, according to the weekly report by Baker Hughes. This marked the biggest number of increases in a row for the rig count since June 2018. In addition, January marked the sixth consecutive monthly …
Read More »Chevron Turns Into a Loss in The Last Quarter Due to Weak Refining Activities
The US oil giant Chevron turned to incur losses in the fourth quarter of $ 11 million, as lower fuel margins, the costs of acquisitions and the effects of foreign currency overshadowed the improvement in the results of exploration activities. It is expected that oil companies will benefit from the …
Read More »Reuters Survey: OPEC Oil Production Rose in January For 7th Month in a Row
A Reuters survey concluded that OPEC oil production increased for a seventh month in January after the organization and its allies agreed to further ease record restrictions on supplies, but an involuntary drop in Nigeria’s exports limited the increase. The survey revealed that the 13 member states of the Organization …
Read More »WTI Settles Above $ 52
WTI settled unchanged this week, with futures settling above $52 a barrel, but below an 11-month high that touched it earlier in the month, as worries about fuel demand overshadowed lower global supplies. Earlier in January, OPEC+ announced production cuts through the first quarter of 2021, Saudi Arabia engaged in …
Read More »Gold Closes Lower for the Sixth Day in Row
Gold prices are trading in a narrow range today, Friday, but prices are on the path of recording a weekly and monthly decline as the high dollar dispels the lustre of the yellow metal. Spot gold rose 0.2 $ to 1844.86 dollars an ounce. Prices fell 0.5% in the week …
Read More »Oil Stable as supply cuts offest concerns
Oil prices stabilized, to remain in the ranges recorded over the past three weeks, at a time when investors looked for indications of a change in the fundamental factors of supply and demand. A Saudi cut in oil supplies and a decline in crude stocks in the United States contributes …
Read More »