Tag Archives: Crude oil

Oil prices fell below $79 a barrel on Friday, as a new increase in Covid-19 cases in Europe threatened to slow the pace of economic recovery, while investors weighed the possibility of a move by the world’s major economies to withdraw from their strategic stocks of crude to calm energy …

Two sources familiar with the matter said that the commitment of the OPEC+ group to oil production cuts amounted to 116 percent in October, up from 115 percent in September. This indicates that the group continues to produce within the framework of the agreed goals. The data showed that the …

US shares markets witnessed a mild improvement in trading sentiment, despite printing a mixed daily performance for Thursday. The reason could be linked to the strong US data and comments from the Fed policymakers, as well as a pullback in the US inflation expectations and the Treasury yields.The Dollar Index’s …

The benchmark Brent crude fell during those moments of trading today, Thursday, below the levels of 80 dollars, as it is trading at levels of 79.8 dollars, down 0.6 dollars. The benchmark Brent crude has fluctuated between levels of $80.15 as a top and $79.6 as a bottom since trading …

A sharp surge in natural gas prices since August has put pressure on a set of commodities, including crude oil, coal and electricity. Prices are currently squeezing margins for industrial users. Some industrial activities have contributed to higher prices for other commodities, such as base metals and ammonia as output …

Oil prices slipped to a one-week low on Monday on expectations on supply boost and weaker demand under pressures from recent surge in energy costs, the strong dollar and increasing COVID-19 cases.On Sunday, Senate Majority Leader Chuck Schumer urged Biden’s administration to tap into Emergency Petroleum Reserves (SPR) to lower …

Director of Research and Development at Noor Capital and member of the American Association of Professional Technical Analysts, Mohamed Hashad, was a guest on Dubai Channel to comment on the most outstanding developments in the financial markets today and throughout the current week. US-China Virtual Summit in Spotlight The markets …

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by four to 454 this week. That followed increases in each of the previous two weeks, including a climb of six oil rigs last week, Baker Hughes data show. The total active U.S. rig …

Gold has shifted after the latest round of hot than expected U.S. inflation data and here’s what to watch with the latest surge higher.There’s a fundamental change of language as solid CPI data previously meant faster tapering schedule, consequently lower gold, the new prevalent language has become: strong CPI = …

OPEC’s crude oil production rose by 217,000 barrels per day to 27.453 million bpd in October, but still fell short of its share of the 400,000-bpd total output hike of the OPEC+ .Under the OPEC+ deal, the ten OPEC members bound by the OPEC+ pact should be raising their combined …