Tag Archives: Aramco

As early as the beginning of 2022, the-then Italian PM Mario Draghi suggested a dangerous idea that large oil buyers could form a new club or sort of forum together and challenge OPEC+. The idea did not take further steps into reality because one obvious problem could not be ignored, …

The giant Saudi oil producer said it earned nearly $50 billion last quarter, the latest energy company to record outsize profits after the surge in crude prices since Russia’s invasion of Ukraine in February.Aramco announced that its second-quarter profit jumped 90 percent over the same period a year ago, reaching …

The euro plunged to a two-year low against the dollar on Thursday, as comments by European Central Bank President Christine Lagarde were taken as a sign that the bank will not be in a rush to raise interest rates. The euro fell to $1.0758, its lowest since April 2020. Lagarde …

The dollar rose on Friday after a report showed strong US job growth in March. In addition, the unemployment rate fell to a two-year low, and wages rebounded, boosting speculation that the Federal Reserve would raise interest rates by 50 points at its meeting. Next. The widely watched US Labor …

Gold prices fell more than one percent on Monday after the US dollar rose. Treasury yields settled near multi-month highs as investors focused on potential peace talks between Russia and Ukraine dented gold’s safe-haven appeal. Spot gold prices fell 1.2 percent to $1,934.61. US gold futures fell one percent to …

Geopolitics continued to impact the economic outlook throughout the previous week. Christine Lagarde emphasized the punitive measures were designed to target the regime, not the Russian people, while new “fiscal remedies are still needed” to stabilize Europe’s economy.Russia’s invasion of Ukraine on 24 February has fundamentally brought about deep economic …

Gold (XAU/USD) prices have seen indecisive, two-way price action in recent trade, swinging between the mid-$1940s and $1960s. A sharp rally in US yields to fresh multi-year highs to reflect an upping of hawkish Fed bets as market participants reacted to a chorus of major US banks issues hawkish new …

A Saudi Aramco oil facility located in Jeddah, Saudi Arabia, was hit by a missile launched by Yemen’s rebel Houthi militia on Friday, reports on social media suggested. A Yemeni Houthi spokesperson later said that the group would be announcing more details on a wide operation in Saudi Arabia later …

Saudi Arabia is expected to raise the official selling prices of all its crude grades sold in Asia next month on the back of solid demand and refining margins.Saudi Arabia usually sets the official selling prices (OSPs) of its crude for the following month around the fifth of each month, …

Oil prices fell on Friday, erasing gains made in the previous session, as the dollar continued to rise on bets that the US central bank would present plans to raise interest rates to curb inflation. In Asian trading, US West Texas Intermediate crude futures fell 26 cents, or 0.3%, to …