The global shipping industry is bracing for the possibility that some of its most important shipping routes will be bypassed for weeks. The U.S. is working to form a military force to stop the Iranian-backed Houthi group from attacking commercial ships off the coast of Yemen, but the shipping industry is still waiting for details … Read more
U.S. shale, once the sworn enemy of the Organization of the Petroleum Exporting Countries (OPEC), has once again strengthened its presence in the global oil market. The situation has changed dramatically from a few months ago, when it was seen as not even close to OPEC in terms of market influence. From the Permian Basin … Read more
Written by – Marwa Al-Ghoul Sunday, December 17, 2023 02:00 PM Oil prices in global markets recorded weekly gains, as Brent crude, the global benchmark, rose by about 0.94%, and US West Texas Intermediate crude rose by about 0.28%. Oil prices recorded $76.55 per barrel for Brent crude futures, and US West Texas Intermediate crude … Read more
Written by – Marwa Al-Ghoul Saturday, December 16, 2023 02:00 PM Recorded Oil prices $76.55 per barrel for Brent crude futures, and US West Texas Intermediate crude futures recorded $71.43 per barrel, as prices declined at the end of Friday trading but recorded gains on a weekly basis. Vadim Collet, Deputy Head of the Russian … Read more
Written by – Marwa Al-Ghoul Thursday, December 14, 2023 02:00 PM It rose Oil pricesin early Asian trading today, continuing the gains that began in the previous session, supported by the decline in US crude inventories and the expectations of the US Central Bank that reducing borrowing costs will begin in 2024. The rise in … Read more
Less than two months after the United States eased sanctions on Venezuela in South America, a group of large tankers loaded with Venezuelan fuel oil have arrived in Asia, threatening to shake up the region’s energy markets. Three large crude oil tankers (VLCCs), each capable of carrying up to 2 million barrels, loaded and unloaded … Read more
Written by: Marwa Al-Ghoul Saturday, December 9, 2023 02:00 PM registered Oil prices $75.84 per barrel for Brent crude futures contracts, and US West Texas Intermediate crude futures contracts recorded $71.23 per barrel upon settlement on Friday, as prices rose by about 3%, but recorded losses on a weekly basis for the seventh week in … Read more
Written by: Marwa Al-Ghoul Thursday, December 7, 2023 02:00 PM I blinked Oil prices today Recording its lowest level since last June in light of increasing concerns about demand for crude as a result of a larger-than-expected rise in US gasoline stocks. The decline in Brent crude futures contracts amounted to $2.90, equivalent to 3.8%, … Read more
Written by: Marwa Al-Ghoul Tuesday, December 05, 2023 02:00 PM I witnessed Oil prices Today, it is stable following the voluntary production cuts of the OPEC+ alliance. Brent crude futures fell one cent to $78.02 per barrel, while US West Texas Intermediate crude futures rose five cents to $73.09 per barrel, according to the Omani … Read more
Saudi Arabia’s Energy Minister Abdulaziz said production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and non-member oil producing countries “OPEC+” could “definitely” continue beyond March next year if necessary. Stated. He also said the production cuts would be fully implemented. The energy minister said supply cuts of more than 2 million barrels … Read more