Category: Petroleum Prices
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Oil prices fall by more than 1%.. Brent crude is under $76 – (Update)
Oil prices fell by more than 1%, at the end of trading today, Thursday, March 23 (2023), after a volatile session, to record the first drop in 4 days. The strong US jobs data reflected bearish signals from Federal Reserve Chairman Jerome Powell, which highlighted risks to the banking sector and swelling US oil inventories.…
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Crude oil prices fall by more than 1% and record weekly gains – (Update)
Crude oil prices fell by more than 1%, at the end of trading today, Friday, March 24, 2023, for the second day in a row, amid expectations of a possible surplus in supply, but they are achieving weekly gains. This came after US Energy Secretary Jennifer Granholm said that refilling the country’s strategic oil reserves…
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Crude oil prices are falling… and Brent is below $76
Crude oil prices fell, during trading today, Friday, March 24, 2023, for the second day in a row, amid expectations of a possible surplus in supply. This came after US Energy Secretary Jennifer Granholm said that refilling the country’s strategic oil reserves could take several years. Despite the decline; Crude oil prices are heading for…
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A report reveals expectations for oil and mineral prices in 2023
There is no doubt that the recovery of the Chinese economy from the repercussions of the Corona epidemic will provide a strong impetus to global oil and mineral prices in 2023, after the turmoil left by the Russian invasion of Ukraine last year (2022). Research firm Wood Mackenzie believes – in a report issued Thursday,…
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Oil prices are falling… and Brent crude is near $76
Oil prices fell, during today’s trading, Thursday, March 23, 2023, after 3 sessions of gains. This comes after Federal Reserve Chairman Jerome Powell highlighted the credit risks in the banking sector of the largest economy in the world, in conjunction with the rise in US oil stocks more than expected. The US Federal Reserve decided…
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Oil prices rise 2%.. Brent crude is near $77 – (Update)
Crude oil prices rose by about 2%, at the end of trading today, Wednesday, March 22 (2023), with the decline of the US dollar. US oil inventories rose over the past week, contrary to analysts’ expectations, limiting price gains. The US Federal Reserve decided to raise interest rates by 25 basis points, for the ninth…
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Crude oil prices are falling… and Brent is below $75
Crude oil prices fell in Asian trading this morning, Wednesday, March 22 (2023), to trim their gains for two consecutive days. The decline came after an industrial report showed that US oil inventories rose unexpectedly last week, indicating the possibility of weak demand for fuel. Crude oil prices were, amid expectations of a breakthrough in…
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International Hedge Fund: Oil prices will reach $140
Andurand Capital hedge fund manager Pierre Andurand expected oil prices to reach $140 a barrel by the end of this year (2023). As Andurand indicated – during his participation in the “Financial Times Commodities” global conference in Switzerland – that the recent decline in oil prices due to banking tension is nothing but speculation. However,…
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Russian oil price ceiling survives revision in March
It seems that the ceiling of Russian oil prices will not witness any additional burdens that may be imposed by the countries allied against Moscow, which were scheduled to review the restrictions imposed this week. And Western officials announced today, Tuesday, March 21 (2023), that it is unlikely that the European Union and the Group…
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Crude oil prices are turning higher… and Brent is near $74 – (Update)
Crude oil prices turned up by more than 1%, at the end of trading today, Monday, March 20, 2023, after a volatile session, amid fears of a global economic recession. And raised risks in the global banking sector fears of a recession that could lead to a decline in demand for fuel and ahead of…