In response to written questions from Bloomberg News, the Saudi Arabian Minister of EnergyPrince Abdulaziz bin Salman said OPEC and its allies (OPEC+) may be forced to cut oil production as physical and futures markets drift further and further away from fundamentals. Featured Statements “The paper and physical markets are increasingly disconnected.” “Futures prices do […]
Tag: oil
Strong 4% plunge for oil against Iran and dollar
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 […]
Rep. Vesyropoulos: We are restoring the return of the EFK to agricultural oil after 6 years
The ministerial decision was signed regarding the criteria and conditions for the return of the Special Consumption Tax (SCT) of diesel for agricultural use, as announced by the Deputy Minister of Finance, Apostolos Vesyropoulos, through his posting on social media. As Mr. Vesyropoulos noted, the total amount of the refund increases to 70 million euros, […]
Gas prices are soaring, oil is falling
Natural gas prices extended gains in European trading as fears returned of a prolonged supply disruption through a major pipeline, putting an already troubled economy at risk. The Dutch contract, which is the European benchmark, rose to 275.97 euros per megawatt hour, strengthening for the fifth week in a row. Futures rose 13% after closing […]
Natural gas exceeded 290 euros, oil remained unchanged
LAST UPDATE 14:40 Natural gas prices extended their gains in Europe as fears of a prolonged supply disruption through critical pipelines resurfaced. In particular, the September contract on the Amsterdam Trading Hub (TTF), the European benchmark, jumps 18.7% with the price at 290.46 euros per megawatt hour, moving upwards for a fifth consecutive week. At […]
Natural gas exceeded 290 euros – Oil plunged by 3%
LAST UPDATE 16:50 Natural gas prices extended their gains in Europe as fears of a prolonged supply disruption through critical pipelines resurfaced. In particular, the September contract on the Amsterdam Trading Hub (TTF), the European benchmark, jumps 18.7% with the price at 290.46 euros per megawatt hour, moving upwards for a fifth consecutive week. At […]
Natural gas exceeded 290 euros
LAST UPDATE 16:50 Natural gas prices extended their gains in Europe as fears of a prolonged supply disruption through critical pipelines resurfaced. In particular, the September contract on the Amsterdam Trading Hub (TTF), the European benchmark, jumps 18.7% with the price at 290.46 euros per megawatt hour, moving upwards for a fifth consecutive week. At […]
Natural gas also exceeded €290
LAST UPDATE 16:50 Natural gas prices extended their gains in Europe as fears of a prolonged supply disruption through critical pipelines resurfaced. In particular, the September contract on the Amsterdam Trading Hub (TTF), the European benchmark, jumps 18.7% with the price at 290.46 euros per megawatt hour, moving upwards for a fifth consecutive week. At […]
Turkey has doubled its oil imports from Russia
Turkey has doubled its oil imports from Russia this year as the two countries are poised for greater cooperation in business and especially in energy trade. Trade between Turkey and Russia has boomed since the spring, as Turkish firms that have not been banned from doing business with their Russian counterparts have rushed to fill […]
Saudi Arabia’s economy is growing rapidly but this time it is not just focused on oil
The more than 300 apartments in Abdulsalam Almajed’s new compound in Riyadh were sold in just one month for cash, without him even having to advertise. Of course, it’s no surprise that the real estate market in the world’s largest oil exporter is “hot” as the proceeds from rising energy prices spill over into the […]