Tag: oil
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Oil prices are rising… and Brent crude is near $80 – (Update)
Oil prices rose at the close of trading today, Thursday, July 20 (2023), exceeding the losses incurred in the previous session, in light of the uncertainty about demand and profit-taking operations. A smaller-than-expected decline in US oil inventories and the possibility of a weaker demand outlook kept investors wary. US oil inventories decreased less than…
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Saudi oil exports to China exceed expectations and rise 12%
Saudi oil exports to China exceeded expectations last June, registering an increase of 12% compared to May 2023. Total Saudi oil shipments to China amounted to about 7.92 million metric tons last month, or 1.93 million barrels per day, according to data seen by the specialized energy platform. The amount of Saudi oil exports to…
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Oil prices are rising marginally… and Brent crude is above $79
Oil prices rose marginally, during today’s trading, Thursday, July 20 (2023), in an attempt to overcome the losses incurred in the previous session, in light of the uncertainty about demand and profit-taking operations. A smaller-than-expected decline in US oil inventories and the possibility of a weaker demand outlook kept investors wary. US oil inventories decreased…
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Oil prices are falling… and Brent crude is below $80 – (Update)
Oil prices fell at the end of trading on Wednesday, July 19 (2023), amid fears of an economic recession with a lack of supplies, and the release of US oil inventories data. The markets are facing fears of a decline in US demand in exchange for China’s pledge to support economic growth, tightening Russian supply,…
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Oil prices are rising marginally… and Brent crude is near $80
Oil prices rose marginally, amid volatile trading, today, Wednesday, July 19 (2023), on the back of fears of an economic recession with a shortage of supplies. The markets are facing fears of a decline in US demand in exchange for China’s pledge to support economic growth, tightening Russian supply, and a decline in US inventories.…
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Oil prices rise by more than 2%.. Brent crude is near $80 – (Update)
Oil prices rose by more than 2% at the end of trading today, Tuesday, July 18 (2023), amid concerns about demand and expectations of a decline in US oil production during next August. Crude prices faced a noticeable decline in recent sessions, in light of the Chinese economy continuing to achieve weaker-than-expected growth, which does…
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Oil prices rise by about 1%, and Brent crude is above $78
Crude oil prices moved slightly higher at the beginning of Asian trading, today, Tuesday, July 18 (2023), amid investors’ aspirations for a possible announcement of an increase in US supplies. This comes at a time when crude prices faced a noticeable decline in recent sessions, in light of the Chinese economy continuing to achieve weaker-than-expected…
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The price of Iranian oil destined for Asia rose 15 cents in August
The price of Iranian oil destined for Asia is scheduled to rise, during next August, by about 15 cents compared to the current month of July, at a value that is 5 cents lower than the prices of Saudi Aramco shipments during the next month. The National Iranian Oil Company announced the official selling prices…
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Saudi Aramco treats oil from plastic waste.. for the first time
Saudi Aramco and SABIC, and French Total Energy, have succeeded in converting oil derived from plastic waste into certified circular polymers that have the International Certificate of Sustainability and Carbon (ISCC Plus) for the first time in the Middle East and North Africa. The oil derived from plastic waste (pyrolysis oil) was processed at the…
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Oil prices are down 1%… and Brent crude is under $79
Oil prices fell by more than 1%, during trading today, Monday, July 17 (2023), to continue bleeding losses for the second session in a row, amid fears of declining demand. Chinese economic data showed slowing growth in the second quarter; What raised concern about demand in the world’s second largest oil consumer, with Libya resuming…
