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 …
Read More »Oil Rises Due to a Sudden Drop in US Crude Stocks
Oil prices rose on Wednesday, continuing the strong gains recorded in the previous session, after data in the sector revealed that US crude stocks fell unexpectedly last week, with travel demand starting to recover in the short term with the easing of pandemic restrictions. Brent crude futures rose 44 cents, …
Read More »A Slight Decline in Oil Prices After Two Consecutive Days of Gains
Oil prices fell, in trading today, Tuesday, after two consecutive sessions of gains supported by the American infrastructure bill, Chinese exports, the global recovery after the pandemic, and the raising of expectations for fuel demand. Brent crude was down 10 cents at $83.33 a barrel, after rising 0.8% on Monday, …
Read More »KSA, U.S. Fight Over Crude Oil Prices
Oil trimmed its weekly loss as Saudi Arabia increased prices for its global crude exports and the U.S. is still considering a potential release of oil from the strategic reserve.Crude oil in New York session smoothed its weekly loss to 2.8%, rising sharply late in the session Friday after Saudi …
Read More »WTI surges above $84.00 as USD reaps gains
WTI US crude oil rises during the New York session, trading at $84.30. The market sentiment has remained positive as U. S. shares are supported by U. S. Q3 solid corporate earnings, which helped ease investors’ nervousness around high inflation and central bank monetary policy tightening.In the meantime, the US …
Read More »Saudi Aramco Asked Banks For $12-14 bln Gas Pipeline Loan – Reuters
Sources told Reuters that Saudi Aramco is currently asking banks to arrange a loan between 12 and 14 billion dollars, which it plans to provide to buyers of its gas pipelines. Reuters reported in August that companies that have been in talks for Aramco’s gas pipeline assets include Global Infrastructure …
Read More »Aramco: Saudi Arabia Will Raise Crude Prices to Asia in September
Saudi Aramco said on Wednesday that the kingdom, the world’s largest crude exporter, raised the official selling price of Arab Light crude to Asia in September to $3 a barrel above the average price of Oman and Dubai crudes. Aramco set the official selling price for its Arab Light crude …
Read More »Aramco Denies Bitcoin Rumor
A few days ago, Amazon denied news of its intention to accept Bitcoin as a payment method in the near future, but company officials did not rule out the matter in the future. Hours ago, Saudi Aramco confirmed that the allegations that it plans to engage in Bitcoin activities are …
Read More »Saudi Aramco Beats Q1 Profit Forecast
Saudi Aramco announced a 30% increase in net profits to 81.4 billion riyals (about $21.7 billion) in the first quarter of 2021, compared to the same quarter of the previous year, and analysts had expected a net profit of 19.48 billion dollars. In a statement on the Saudi Stock Exchange …
Read More »Reuters: Investors in Aramco Pipelines Will Refinance Bond Loans Next Year
Saudi Aramco will reduce its shipments of medium and heavy crude for August to at least six Asian buyers, sources familiar with the matter said. The Kingdom of Saudi Arabia, the largest oil producer and exporter in OPEC, to cut production and exports in compliance with the OPEC agreement, reducing …
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