Crude Oil

US Stock Market Resumes Rise on China’s Slowing Economy: Activision Blizzard Shares Rise, Ford Motor Falls

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US Stock Market Resumes Rise on China’s Slowing Economy: Activision Blizzard Shares Rise, Ford Motor Falls

The US stock market resumed its rise on the 17th. Investors were leaning toward the end of tightening U.S. monetary policy as data showed China’s economy was slowing. S&P 500 Stock Index 4522.7917.370.39% Dow Jones Industrial Average 34585.3576.320.22% Nasdaq Composite Index 14244.95131.250.93% Activision Blizzard shares rose. Regarding Microsoft’s planned $69 billion (approximately 9.59 trillion yen) … Read more

Significant Decline in Russian Seaborne Crude Oil Supply Signals Impact of Production Cuts

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Significant Decline in Russian Seaborne Crude Oil Supply Signals Impact of Production Cuts

More than four months after the announcement of the production cut, Russia’s seaborne crude oil supply is finally starting to show signs of a decline. Ship-tracking data monitored by Bloomberg and confirmed by other data sources showed that crude exports from western Russian ports rose from February through late June, but fell in the four … Read more

Indonesian Coast Guard Seizes Iranian Supertanker Suspected of Illegal Oil Transshipment

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Indonesian Coast Guard Seizes Iranian Supertanker Suspected of Illegal Oil Transshipment

The Indonesian Coast Guard Agency (BAKAMLA) announced on July 11 that it had seized an Iranian-flagged supertanker suspected of being involved in illegal transshipment of crude oil, and indicated a policy to strengthen maritime security. The photo shows the Iranian flagged MT Arman 114 and the Cameroonian flagged MTS Tinos, released by BAKAMLA on the … Read more

WTI Crude Futures Rise 1% to $70 After US Inflation Data: Impact on Interest Rate Hikes by the Fed

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WTI crude futures rose more than 1% to $70 after the US released the Personal Consumption Expenditure (PCE) price index, indicating that inflation had peaked. And will be a factor to slow down interest rate hikes by the Federal Reserve (Fed). At 9:55 p.m. Thai time, West Texas Crude Oil Contract (WTI) for delivery in … Read more

WTI Crude Futures Soar 2% as US Crude Inventories Decrease, Reflecting Increased Demand in the Market

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WTI crude futures rose more than 2% to $69 after US crude inventories fell last week. which indicates increased demand in the market. At 10:56 p.m. Thai time, West Texas Crude Oil Contract (WTI) for delivery in August. which traded on the NYMEX plus $ 1.61, or 2.36%, to $ 69.31 / barrel. The U.S. … Read more

US Secretary of State Blinken meets with Saudi Crown Prince to discuss bilateral relations

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US Secretary of State Blinken meets with Saudi Crown Prince to discuss bilateral relations

During a visit to Saudi Arabia, US Secretary of State Brinken met with Crown Prince Mohammed bin Salman and discussed bilateral relations. The state-run Saudi Press Agency (SPA) reported on the 7th. FILE PHOTO: Washington, D.C. May 16, 2023. REUTERS/Elizabeth Frantz CAIRO (Reuters) – US Secretary of State Brinken met with Crown Prince Mohammed bin … Read more

Oil prices rise as US debt ceiling bill approved and OPEC+ meeting looms

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Oil prices rise as US debt ceiling bill approved and OPEC+ meeting looms

registered Oil prices 76.13 dollars a barrel for Brent crude futures contracts, and US West Texas Intermediate crude futures recorded 71.74 dollars, as prices rose at the end of Friday’s trading by about 2.5%. The “Cairo News” channel reported that oil prices rose on Friday, amid a recovery in sentiment as a result of the … Read more

Global Petroleum Situation Report: Forecasted Increase in Oil Supplies for 2023 Despite OPEC’s Decrease in First Quarter

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Global Petroleum Situation Report: Forecasted Increase in Oil Supplies for 2023 Despite OPEC’s Decrease in First Quarter

Written by Marwa Al Ghoul Sunday, May 14, 2023 03:00 AM The latest forecast indicates Organization of the Petroleum Exporting Countries (OPEC), This led to a decrease in the total oil supplies of the group of producing countries from outside during the first quarter of 2023, by about 120 thousand barrels per day, compared to … Read more