Oil contracts closed lower on Monday, with US crude recovering positively at the end despite heavy losses found earlier amid speculation that the US government would soon give the green light for the release of quantities from the strategic stocks. The release of the US Energy Information Administration (EIA) monthly report, which forecasts a rise […]
Tag: Oil Market
El Erian: Why does he not see a rise in oil to $ 100
Forecasts for a rise in crude to $ 100 a barrel ignore key questions about the future of oil demand, according to Mohamed El Erian, chief financial officer of Allianz and chairman of Gramercy Fund Management. Both the international benchmark Brent and US crude have jumped above $ 80 a barrel in recent weeks as […]
Saudi Arabia – Emirates do not retreat to the US: No need to increase oil production
Saudi Arabia and the United Arab Emirates have sent “signals” that the OPEC + cartel will continue to resist US pressure to increase its oil production and move very cautiously in this area. US President Joe Biden, worried about the seven-year high in gasoline prices, which has significantly pushed up inflation, has called on the […]
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 […]
OPEC: Reduces its forecast for global oil demand for the fourth quarter of 2021
OPEC on Thursday cut its forecast for global oil demand for the fourth quarter of 2021 due to high energy prices, although the agency insists on its forecast for strong growth above pre-pandemic rates in 2022. OPEC said in its monthly report that it expects average oil demand to reach 99.49 million barrels per day […]
3% drop for US crude, 2.5% losses for natural gas
The three-day uptrend in oil ended on Wednesday, with both US crude and Brent prices falling sharply as a result of the increase in US stocks for the third consecutive week and the strengthening of the dollar. As reported by the US Energy Information Administration (EIA) earlier today, US crude reserves strengthened in the week […]
Jump 2.7% for crude, dive for natural gas
LAST UPDATE 22:45 US crude closed higher on Tuesday as the US government stepped up its decision to release oil from emergency reserves in the wake of the latest US Energy Agency (EIA) report, which is seeing an increase. of the offer from next year. In its report on the short-term outlook, the EIA estimates […]
A ‘breath’ of $ 84 oil
On the way to $ 84 a barrel, oil is moving on Tuesday, recording gains for the third consecutive session, as the lifting of travel restrictions by the US and the growing signs of recovery of the global economy from the coronavirus pandemic have strengthened its prospects. , while the supply of crude oil remains […]
Gains of 0.8% crude
Oil prices gained for the second consecutive session as investors wait for the investment package of 1 trillion. $ in infrastructure projects voted last Friday to further stimulate the economy, boosting demand as well. Meanwhile, research by S&P Global Platts has shown that OPEC + – the Organization of the Petroleum Exporting Countries and its […]
