Tag Archives: Oil

Oil prices jumped on Friday, heading for weekly gains of more than 3 percent, amid increasing evidence of tight supply over the next few months, with increased expectations of a shift to petroleum products in light of the sharp rise in natural gas and coal prices. Brent crude futures touched …

Oil, Crude, trading

Oil prices rose on Thursday, reversing earlier losses, as larger-than-expected drawdowns in US gasoline and distillate inventories prompted buying, and the rally was also supported by expectations that higher natural gas prices as winter approaches will shift to oil to meet heating demand. Brent crude futures rose 67 cents, or …

Oil, Crude, trading

Consumer Price Index data from the U. S. Labor Department and FOMC minutes represented the key market drivers on Wednesday. Inflation is still steering the both the U. S. economy and fiscal policy as prices continued their ascent in September. Social Security benefits will rise 5.9% in 2022, the highest …

In its monthly report published on Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) announced that it lowered the 2021 oil demand growth forecast to 5.82 million (bpd) from 5.96 million bpd, per Reuters. Raising expectations of non-OPEC supply growth by 100,000 barrels per day in 2022 Maintaining the …

Oil, Crude, trading

Oil, Crude, trading

Speaking to Dubai TV on Monday, Mohamed Hashad, Director of Research and Development at Noor Capital, discussed the current situation across global markets, with anticipation for a number of developments over the course of the week. ECB Hashad explained that we had seen a lot of hints from the European …

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 …