Tag Archives: Crude oil

Oil prices rose on Friday and headed for the highest weekly increase since mid-December, due to unrest in Kazakhstan and production outages in Libya, which raised concerns about supplies. Brent crude futures rose 76 cents, or 0.9 percent, to $82.75 a barrel by 0939 GMT. US West Texas Intermediate crude …

A Reuters survey showed on Thursday that the increase in OPEC oil production in December was also less than the increase planned under an agreement with allies, highlighting the constraints faced by production capacity that curb supply as global demand recovers from the repercussions of the Corona pandemic. The survey …

Oil prices stabilized on Wednesday as investors weighed the impact of a massive spike in omicron cases from the coronavirus, but the upside remained limited after rising US fuel stocks. Brent crude, the global benchmark, was down four cents at $80.04 a barrel. US West Texas Intermediate crude futures rose …

OPEC lowered its forecast for the excess supply of oil in global crude markets during the current quarter, a day before the group’s meeting scheduled for tomorrow, Tuesday. And according to internal research conducted by the group and its allies on Monday and reported by the “Bloomberg” agency, the oil …

The number of active drilling rigs in the United States last week rose by 7, bringing the total to 586 as oil prices remain relatively strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus.Last week’s count compared with a rig count rise of …

Traders are eying key economic data on Friday. Consumer inflation forecast to accelerate to 6.8% annually from 6.2% while Core CPI expected to rise to 4.9% from 4.6%. Producer prices, The monthly increases are predicted to be 0.7% in the headline rate and 0.5% in the core.Wages point to still …

Crude oil prices fall during Thursday’s session after rallying for six weeks, retreating by 2.82%. COVID-19 restrictions, and the spread of the Omicron variant, dented market mood as oil demand cut are among factors that are dragging prices lower.The factors together hit oil prices as lockdowns loom as a number …

Ivey PMI, which is released by the Richard Ivey School of Business on a monthly basis and depicts the business conditions outlook in Canada, has remained at 61.2 in November after also posting the same reading 61.2 in October.As with other PMI indicators, a result above 50 is generally associated …

Oil prices rose more than 3 percent on Wednesday, offsetting some sharp losses incurred during the previous session, as major producers prepare to discuss how to deal with the threat to fuel demand from the mutated Omicron. Brent crude futures rose $2.46, or 3.6 percent, to $71.69 a barrel by …

Speaking on Dubai TV, Monday, Mohamed Hashad, Director of Research and Development at Noor Capital and member of the American Association of Professional Technical Analysts shed light on a number of developments in the markets this week Oil Hashad indicated that last Friday, there was a state of panic that …