Tag Archives: Oil

The US dollar started the first day of the trading week weaker than the previous week, losing ground against most rival currencies. In the US session, afternoon, the dollar bounced back, as Wall Street was not able to retain its early gains and eventually headed to the red territory.Commodity-linked currencies …

The US dollar surged to two-decade highs between Wednesday and Thursday after panic across markets that the Fed might decide a record 100-basis point rate hike next to suppress fresh four-decade highs in consumer prices which constitute a threat later downplayed by the US monetary policymakers.On Friday, the US Census …

Oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.The comment during US President Joe Biden’s visit to the kingdom comes at a time when …

Active drilling rigs in the US rose by 4 to 756, the highest since March 2020 and 56% more than a year ago, according to the latest weekly survey from Baker Hughes.Drilling rigs targeting crude oil gained 2 to 599, also the most since 2020, and gas rigs were unchanged …

The Chinese economy contracted sharply in the second quarter of this year 2022, while annual growth slowed significantly, highlighting the huge losses in economic activity due to the widespread closures to contain the Corona virus, which shook industrial production and consumer spending. Official data released Friday showed that China’s gross …

The International Energy Agency said on Wednesday that the global oil market was walking a “tightrope” between a supply shortage and a possible economic recession, with demand already affected by higher prices and deteriorating economic conditions. Rarely has the outlook for oil markets been more uncertain. A worsening macroeconomic outlook …

The International Energy Agency said on Wednesday that the global oil market was walking a “tightrope” between a supply shortage and a possible economic recession, with demand already affected by higher prices and deteriorating economic conditions. Rarely has the outlook for oil markets been more uncertain. A worsening macroeconomic outlook …

China’s exports grew at the fastest rate in 5 months in June, exceeding analysts’ expectations, confirming that China, the world’s second largest economy, is slowly recovering from the effects of the restrictions it imposed to contain the Corona virus pandemic. But imports grew at a slower rate that did not …

The National Oil Corporation of Libya announced in a statement on Wednesday the lifting of force majeure and the resumption of exports from the Brega and Zueitina ports. The statement stated that a team of specialists from the Corporation is negotiating to allow the tankers to enter the ports of …

Oil prices fell nearly $1 on Monday in choppy trading after worries about a recession and China’s restrictions to combat COVID-19 outweighed persistent concerns about a supply shortage. Brent crude futures were down 82 cents, or 0.8 percent, at $106.20 a barrel. US West Texas Intermediate crude futures fell $1.04, …