Tag: prices
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Saudi Aramco plans to cut oil sales prices to Asia in June (survey)
Saudi Aramco is heading to reduce the official selling prices for Arab crude destined for Asia, during next June, in light of fears of a global economic recession that may affect demand. A survey revealed that the Saudi oil giant, the largest oil exporter in the world, may reduce the price of its main Arab…
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Crude oil prices rise for the first time in 3 sessions… and Brent is above $78 – (Update)
Crude oil prices rose, at the end of trading today, Thursday, April 27 (2023), in an attempt to reduce the huge losses incurred during the previous two sessions. The major decline in the oil markets was driven by fears of a US recession and an increase in Russian oil exports. This reduced the impact of…
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OPEC warns of the fallacies of the Energy Agency and responds to the truth of its position on oil prices
The Organization of Petroleum Exporting Countries (OPEC) renewed its warnings about the impact of declining investment in the hydrocarbon sector on global energy security. Haitham Al-Ghais, Secretary-General of the Organization, said today, Thursday, that the International Energy Agency should “exercise extreme caution about further attempts to undermine investments in the oil industry.” The Secretary General…
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Crude oil prices are rising… and Brent is near $78
Crude oil prices rose slightly, during today’s trading, Thursday, April 27 (2023), in an attempt to reduce the huge losses incurred during the previous two sessions. The major decline in the oil markets was driven by fears of a US recession and an increase in Russian oil exports. This reduced the impact of OPEC+ production…
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Crude oil prices are rising… and Brent is near $81
Crude oil prices rose marginally during trading on Wednesday, April 26 (2023), in an attempt to reduce bleeding losses, after falling by more than 2% in the previous session. Reports of declining crude oil and fuel inventories in the United States have refocused investors on strong demand in the world’s largest oil consumer. Crude oil…
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Crude oil prices fall by more than 2%… and Brent is below $81 – (update)
Crude oil prices fell by more than 2% at the end of trading today, Tuesday, April 25 (2023), after two sessions of gains. This comes with uncertainty about the global economic outlook and a rising US dollar, which outweighed investor optimism about demand in China and expectations of lower US oil inventories. Crude oil prices…
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Crude oil prices rise by more than 1% … and Brent is near $ 83 – (update)
Crude oil prices rose by more than 1%, at the end of trading today, Monday, April 24 (2023), with the decline in the US dollar and optimism about demand in China. This comes amid expectations of a decline in global fuel demand, which outweighed support from the possibility of supply cuts due to OPEC+ supply…
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Crude oil prices fell by more than 2%, recording the lowest level in 3 weeks – (Update)
Crude oil prices fell by more than 2%, at the end of trading today, Thursday, April 20 (2023), to continue losses for the second day in a row, recording their lowest levels in 3 weeks. This comes amid expectations of an interest rate hike after recent economic data from the US and China failed to…
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Crude oil prices are rising…and recording strong weekly losses – (Update)
Crude oil prices rose, at the end of trading today, Friday, April 21 (2023), in an attempt to reduce the losses incurred during the previous two sessions. Despite this, the oil markets recorded strong weekly losses, with increasing uncertainty about the economy and interest rates, as the increase in US gasoline stocks raised concerns about…
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Crude oil prices are down 2%.. and Brent is under $82
Crude oil prices fell about 2%, during trading today, Thursday, April 20 (2023), to continue the losses for the second day in a row, recording their lowest levels since the OPEC + announcement to cut production. This comes as the US dollar rose, amid expectations of an interest rate hike, after recent economic data from…
