Oil prices closed with gains on Wednesday, finding support from a series of news indications that the Omicron mutation may not upset economies as much as the market is worried. In particular, the results of an “initial laboratory study” announced by Pfizer and BioNTech today showed that their covid-19 vaccine neutralizes the Omicron mutation after […]
Tag: Brent
The biggest downward trend since 2018 for oil in the week – ‘slump’ 25% natural gas
A mixed picture in Friday’s meeting on oil prices, however on a weekly basis Brent and US crude recorded significant losses. This was the sixth consecutive week of losses for black gold, in the biggest declining series at 5-day level since 2018. Uncertainty set the tone for this week’s negotiations. OPEC + may have reached […]
OPEC + ‘turned’ oil prices to profits over 1.2%
Oil prices rose on Thursday, after OPEC + reached an agreement to comply with the existing policy of increasing oil production by 400,000 barrels per day for January. The cartel, however, left the door open for any adjustments in production, depending on new market developments, against the background of the release of crude stocks from […]
Oil falls more than 2% amid worries about a slowdown in demand
LAST UPDATE: 14.05 Losses of more than 2% were recorded by oil prices on Tuesday, following the downward trend of the stock markets, as the Moderna CEO Stefan Bancel predicts that existing vaccines will be much less effective In dealing with the new mutation, they rekindled concerns about the further dynamics of the economic recovery […]
Oil prices recover with profits over 4%
LAST UPDATE: 11.45 Oil prices are recovering at the beginning of the week, offsetting some of the losses after Friday’s slump that reached -13% with traders worried that the new mutation could derail the global economic recovery, affecting oil demand. The possibility of inflating the supply surplus in 2022 with the release of stocks from […]
Oil: Profits of around 1% against the background of the coordinated release of stocks
Recovery for oil prices on Thursday, which moved away from the 6-week low recorded at yesterday’s meeting. US crude futures have fallen from their recent highs as traders appear to have “costed” the impact of a possible coordinated oil release from US and China strategic reserves, said Edward Moya, an Oanda analyst. However, “the oil […]
‘Dive’ for oil – US crude lost $ 80 / barrel
Heavy losses for oil at Wednesday’s meeting, with the US crude losing $ 80 a barrel and its price is at its lowest level since early October. The “black gold” dip came after the South China Morning Post reported that Joe Biden and Xi Jinping discussed during their recent meeting the possibility of the US […]
Oil: Losses for the third week in a row with the US considering a move to ‘pick’ prices
Oil prices fell on Friday, ending another week in negative territory – the third consecutive – as traders continued to weigh the possibility of the release of US oil reserves from the Strategic Petroleum Reserve or the ban on oil exports to lower prices of petroleum products. At a press conference at the White House […]
Small recovery for oil prices – ‘Jump’ 5.5% natural gas
Oil prices closed higher on Thursday, recovering a small portion of the significant losses they suffered yesterday, after US inflation data boosted bond yields and the dollar and rekindled worries about a possible “release” of crude oil. Strategic Oil Reserve. Alongside, OPEC cut its forecast for global oil demand on Thursday for the fourth quarter […]
There is no justification for reaching $ 100 – OCBC
WTI and Brent are above $ 82 and $ 84 a barrel, respectively. How much higher can oil go? Howie Lee, an economist at OCBC Bank, continues to be very skeptical of a rise in oil to $ 100. “Many are looking at the oil price chart and pointing to the lack of any notable […]
