Most Asian equities rallied on Monday as markets hailed a tentative agreement reached by US legislators to raise the debt ceiling and avoid a default, with Japan’s Nikkei resuming its near-33-year highs on better risk appetite. The Nikkei 225 led Asian markets, rising 1.4% to its highest level since July …
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Saudi Arabia’s energy minister has cautioned oil speculators to “be careful” ahead of the latest OPEC+ meeting, after the group decided to cut output in early April. “I would just tell them to watch out,” Prince Abdulaziz bin Salman remarked on Tuesday, implying that those wagering against oil price hikes …
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Most Asian stock markets fell on Monday as investors braced for a spate of Chinese economic data, as well as monetary policy indications from a crop of Federal Reserve speakers later in the week. China’s Shanghai Composite index was the worst performer on the day, down 1.1% as local industrial, …
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Saudi Aramco said on Sunday evening that Saudi Arabia raised the selling price of its Arab Light crude oil to Asia for the second month in April to $2.50 a barrel, above the average price of Oman and Dubai crude. The price increase, which is 50 cents a barrel above …
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Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said on Monday, “OPEC+ is flexible enough to change decisions whenever required.” Last week, Saudi Arabian Energy Minister said the current OPEC+ deal on oil output would be locked in until the end of the year, adding the oil group can’t increase …
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Asian shares firmed on Monday as optimism about China’s reopening offset concerns the Bank of Japan (BOJ) might temper its super-sized stimulus policy at a pivotal meeting this week, while a holiday in U.S. markets made for thin trading. The yen climbed to its highest since May after rumours swirled …
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On the ninth of August, US President Biden signed the CHIPS Act that analysts fear could be the starting point of wider weaponization of the global IT supply chains.The CHIPS and Science Act of 2022 includes a $52 billion package to boost semiconductor manufacturing in the US, however, the underlying …
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OPEC stands ready to cut output to correct a recent oil price decline driven by poor futures market liquidity and macro-economic fears, ignoring extremely tight physical crude supply, OPEC’s leader Saudi Arabia said on Monday. Saudi state news agency SPA cited Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman as …
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The International Energy Forum said on Wednesday, citing data from the Joint Organizations Data Initiative (JODI), that Saudi Arabia’s crude exports in June rose to 7.20 million barrels per day from 7.050 million in May. The data showed that demand for Saudi crude rose 364,000 barrels per day to 2.79 …
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Citing monthly export data for the Joint Data Initiative “JODI”, the International Energy Forum said that Saudi Arabia’s crude exports in April rose to 7.38 million barrels per day from 7.235 million barrels per day in March. The forum indicated that the data highlights that global oil demand fell on …
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