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Tag: Oil Market

Turkey doubled its oil imports from Russia

Turkey doubled its oil imports from Russia Turkey doubled its oil imports from Russia

Turkey has increased its oil imports from Russia to over 200,000 barrels per day (bpd) on average so far this year, from 98,000 bpd in the same period last year, media reported citing data. Reuters reported on Monday, citing Refinitiv Eikon data, that Turkey has increased its oil imports from Russia to over 200,000 barrels […]

Crude finally limited its losses, natural gas hit new 14-year highs

Crude finally limited its losses, natural gas hit new 14-year highs Crude finally limited its losses, natural gas hit new 14-year highs

Oil prices eased on Monday, although they closed far off their lows, after assurances from Saudi Arabia that OPEC+ has the wherewithal to deal with market challenges. Against the backdrop of a 4% plunge in prices earlier today, Saudi Arabia’s energy minister said OPEC+ has the commitment, flexibility and means to meet challenges and provide […]

Strong 4% plunge for oil against Iran and dollar

Strong 4% plunge for oil against Iran and dollar Crude finally limited its losses, natural gas hit new 14-year highs

Oil prices are trading with big losses that exceeded 4.5% intra-session, as the possibility of Iran’s return to the market and the jump of the dollar trigger a wave of sales. In particular, his October contract Brent now moves to $93.17 the barrel with losses 3.7% or 3.55 dollars, while at the low of the […]

Oil: With gains for the third day in a row, it collected weekly losses to 1.5%

Oil: With gains for the third day in a row, it collected weekly losses to 1.5% Oil: With gains for the third day in a row, it collected weekly losses to 1.5%

Oil prices erased intra-session losses of as much as -2%, closing in positive territory for a third consecutive day and capping their losses for the week. In particular, the slow type West Texas Intermediate added on Friday 27 cents or 0.3%, to set its price at $90.77 per barrel. This was the highest close for […]

Oil is headed for big losses this week

Oil is headed for big losses this week Oil is headed for big losses this week

Oil prices eased on Friday after two consecutive bullish sessions, with the “black gold” heading for big losses for the week. A strong dollar and concerns about a global economic slowdown due to a sharp shift by central banks to tightening policies fueled pressure on oil prices this week. Specifically, Brent lost $1.99 or 2% […]

Oil rallies to $100 as US gas consumption rises

Oil rallies to $100 as US gas consumption rises Oil rallies to 0 as US gas consumption rises

With a strong rise reaching 4%, oil prices are moving against the background of the increased consumption shown by the figures in the USA, while the c.g. of OPEC says risks to global demand are probably overstated. In particular, his contract Brent for October delivery is negotiated at 97.3 dollars the rising barrel 3.9% or […]

Oil closed strongly higher (+3%), boosted by increased gasoline consumption in the US

Oil closed strongly higher (+3%), boosted by increased gasoline consumption in the US Oil rallies to 0 as US gas consumption rises

LAST UPDATE: 22.32 International oil prices closed with a strong rise of around 3% on Thursday, against the background of the increased consumption shown by the data in the USA, while the g.y. of OPEC says risks to global demand are probably overstated. In particular, the global benchmark, Brent oil for October delivery trades in […]

Crude rally boosted by inventory data

Crude rally boosted by inventory data Oil: With gains for the third day in a row, it collected weekly losses to 1.5%

Oil prices ended higher on Wednesday after three straight sessions of losses, as government data released today revealed that domestic stockpiles fell last week, beating analysts’ estimates. In particular, crude oil inventories fell by 7.1 million barrels for the week ended August 12, as announced by the US Energy Administration (EIA). It is noted that […]

US: Crude inventories fall, prices jump

US: Crude inventories fall, prices jump US: Crude inventories fall, prices jump

Oil stocks in the US fell last week, surpassing analysts’ estimates. In particular, crude oil inventories fell by 7.1 million barrels for the week ended August 12, as announced by the US Energy Administration (EIA). Analysts’ average estimate had called for a drop of 1.7 million barrels, according to a poll by S&P Global Commodity […]

New c.c. OPEC: Inflation not our fault, but chronic underinvestment in oil and gas

New c.c. OPEC: Inflation not our fault, but chronic underinvestment in oil and gas New c.c.  OPEC: Inflation not our fault, but chronic underinvestment in oil and gas

New OPEC Secretary-General Haitham Al Ghais said on Wednesday that the highly influential oil cartel was not to blame for soaring inflation, blaming chronic underinvestment in the oil and gas industry. “OPEC is not behind this price increase,” stressed Al Gais, speaking to the US network CNBC. “There are other factors beyond OPEC that are […]