Oil prices rose on Tuesday for the second consecutive session, recovering some of its recent losses, amid output disruptions in North America. Brent crude futures for October delivery closed higher by $2.30, or 3.35%, at $71.05 per barrel, to close at its highest level since August 12. Meanwhile, the West …
Read More »Oil Rises as Demand Hopes Grow After Full US Approval For a Covid-19 Vaccine
Oil prices rose on Tuesday, August 24 after the US Food and Drug Administration granted full approval for the use of the Pfizer-BioNTech vaccine against Covid-19, raising investors’ hopes of higher fuel demand due to a possible increase in US vaccination rates. Brent crude futures rose 46 cents, or 0.7%, …
Read More »Crude Oil: Selling Pressure Continues
Oil, Crude, trading
Read More »Oil Scores Highest Gains Since Late March
Oil prices closed higher on Monday with their best performance in five months, recovering most of their losses last week, despite lingering concerns over the spread of the Coronavirus Delta variant. Today’s rebound, the highest since March 24, snaps a seven-session declining streak for oil futures, which brought them to …
Read More »Dubai TV Interview, June 28, 2021
Dubai TV interview with Mohamed Hashad, R&D Director at Noor Capital 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. USD The U.S. …
Read More »Oil Rises 3% After a Week of Losses Thanks to The Decline in USD
Oil prices jumped more than 3% Monday, August 23, after a seven-day losing streak driven by a weaker dollar, despite demand concerns fueled by an increase in cases of the mutated delta strain of the coronavirus. Brent crude rose $2.17, or 3.2%, to $67.35 a barrel by 09:01 GMT, after …
Read More »Crude Oil And Selling Pressure Continues
Oil, Crude, trading
Read More »Oil Finishes Third Week in Losses
Oil prices declined on Friday, keeping a downward trend that has so far lasted for seven straight sessions, with the rise of the U.S. Dollar (USD) and fears about the spread of the Coronavirus Delta variant and a possible negative impact on demand recovery. Despite the USD edging lower on …
Read More »Oil Heads For 7% Weekly Decline as Delta Spreads
Oil prices fell on Friday for the seventh consecutive session, approaching their lowest level in three months, and heading towards a weekly decline of more than seven percent, as new closures in countries facing increasing cases of the mutated delta strain of the Coronavirus weakened expectations for fuel demand. Investors …
Read More »Saudi Arabia Remains China’s Largest Oil Supplier in July
Saudi Arabia remained the largest supplier of crude oil to China for the ninth consecutive month in July, but its shipments of crude fell 10% on a monthly basis, while shipments from Russia fell only 4%. According to data from the General Administration of Customs in China, total Saudi shipments …
Read More »