US stock indices closed lower today, Wednesday, after weak economic data and pro-rate-raising statements from Federal Reserve officials raised fears that the bank will continue to tighten monetary policy, perhaps to the extent that it leads to a recession. Before the market opened, US economic data showed retail sales and producer prices fell by more … Read more
Production of the 19 OPEC members bound by quotas under the oil agreement is down by 50,000 barrels per day — to 38.33 million bpd last month, leaving an estimated 1.77 million bpd gap between alliance supply and its official targets. OPEC production fell by 1.77 million barrels per day below the agreement level A … Read more
Russia deployed at least four VLCC supertankers in December 2022 to export Urals oil to China, and one for delivery to India in January of this year. Traders note that this allows to reduce the cost of transporting oil to Asia. Russian oil exports from the Baltic Sea ports to Asian countries increased by 27% … Read more
Tesla shares rose significantly during trading today, Tuesday, with the support of the American electric car company’s announcement of its decision last week regarding the prices of its products. This comes in light of the increasing competitiveness in the electric car industry globally, as Tesla struggles to maintain the lion’s share of the market. Tesla … Read more
Original title: The European Union may face a diesel crisis soon as Western countries impose price limits on Russia According to CCTV news, on December 5 last year, the Group of Seven, the European Union and Australia imposed price restrictions on Russia’s seaborne crude oil exports. Beginning on February 5 this year, Western countries’ price … Read more
Inflation fell Inflation remains a major challenge for many countries in the world. As for the Gulf region, although it recorded last July its highest level in 11 years at 4.8%, the inflation rate fell to 4% in November, and is expected to continue its decline to 2.7% in 2023. PwC says that there are … Read more
Oil prices remain near their highest levels since the beginning of the year, after the reopening of borders, the easing of restrictions imposed to combat Covid, and the increase in demand for fuel in China. Oil prices are holding steady amid rising demand in the Chinese market Oil prices fell today, Monday, but held near … Read more
Bitcoin is trading above the 200 moving average for the first time since January 2022Bitcoin gains 34% since the bottom of November 2022 Bitcoin, the largest and most famous cryptocurrency in the world, rose by more than 7% to levels of $ 21,292 in the Saturday session, for the first time in about two months, … Read more
In December 2022, the production of crude palm oil in Colombia reached 131,000 tons. According to Fedepalma, the good performance of production during the 12 months of 2022, showed an increase of 1.2% compared to the previous year, reaching a record figure of 1.7 million tons. (Palm oil sales up 36% in the first quarter.) … Read more
US stocks closed higher, recording gains for the second week in a row, on Friday, as shares of JPMorgan Chase and other banks rose after announcing their results for the fourth quarter, at the start of the corporate earnings season. The stocks of financial institutions were among the largest sectors supporting the index. JPMorgan Chase … Read more