Tag: oil
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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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Oil and gas projects in Africa attract $16 billion in bank financing
The pace of implementation of oil and gas projects in Africa is accelerating in light of the growing demand for the two vital commodities. This prompted the governments of the countries of the continent to raise investment spending related to exploration and excavation activities. Indeed, entities outside the fossil fuel industry have begun directing their…
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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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The largest oil traders in the world are hinting at their return to the activity of selling Moscow crude and its derivatives
The world’s largest oil trader is considering re-expanding the sale of Russia’s crude and oil derivatives again, after a year and more of restricting trade during it due to the Ukrainian war. The CEOs of the Vitol and Trafigura groups revealed their study of resuming extensive commercial dealings in Russian oil and derivatives, without specifying…
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Shares of major oil companies rise, led by Saudi Aramco
Shares of major oil companies received a significant boost during trading today, Tuesday, March 21, after a number of central banks revealed their intention to inject liquidity into the market to support the banking system. And the stocks of energy companies in the Asian, European and American markets reaped gains again, in conjunction with the…
