Tag: Crude Oil
South Korea has taken new measures to counter the inflation caused by high oil prices, by increasing the fuel tax cuts that began in November for a period of 6 months and intends to extend them for another 3 months. Korean Finance Minister Hong Nam-ki said today, Tuesday, that his country will expand tax cuts […]
Oil prices rose more than 3% during Monday’s trading, with Brent crude trading above $107, with concerns about a tight supply continuing. This comes despite investors’ aspiration to free supplies from strategic oil reserves from consuming countries and the armistice in Yemen; This raised hopes that supply problems in the Middle East might recede. Oil […]
Venezuela’s March oil exports slip amid struggles with returned cargoes Venezuelan petroleum exports fell about 4% in March compared to the previous month as the country’s state-run oil company dealt with crude cargoes returned by customers due to poor oil quality, according to documents and vessel monitoring data. A high-level meeting between US and Venezuelan […]
Oil prices fell by about 5% during trading today, Thursday, after news that the United States intends to free up to 180 million barrels of its strategic oil reserves, which is the largest in the history of the strategic oil reserves of nearly 50 years. The significant decline in oil prices comes at a time […]
Oil prices extended their gains to more than 7% during Thursday’s trading, with US crude breaking the $102 per barrel barrier, amid fears of a supply shortage. Crude’s performance follows warnings from the International Energy Agency that markets could lose 3 million barrels per day of Russian oil and refined products starting in April. The […]
Oil prices fell more than 7% in trading today, Tuesday, to record Brent crude, the level of $ 99 a barrel, with the release of the monthly OPEC report. OPEC kept estimates of global oil demand and supply growth unchanged this year, but noted that the war in Ukraine was accelerating inflation and could hurt […]
The EIA predicts that US natural gas production will continue to rise until 2050. According to the US Energy Information Administration, US natural gas production is expected to increase through 2050 due to rising demand from US natural gas exports, particularly for liquefied natural gas. The EIA forecasts a nearly 25% increase in annual US […]
Oil prices raised their gains by more than 4% in Tuesday’s trading, with Brent crude rising above $129, amid fears of official sanctions on Russian oil and fuel exports, raising concerns about the availability of supplies. On Monday, oil prices ended more than 4% higher, trimming their gains after touching the highest level since July […]
Oil prices reduced their gains to 4% during trading today, Wednesday, with Brent crude trading below 110 dollars, with the release of the US inventories report and the decision of the OPEC + alliance. And oil prices jumped more than 8%, and Brent crude exceeded $113 during trading, as fears escalated of supply disruptions due […]
Oil prices extended their gains to more than 5% during trading on Tuesday, with Brent crude rising above $104, as fears of a possible supply disruption with the Russian invasion of Ukraine overshadowed talk of a coordinated global release of crude stocks to calm markets. Oil prices ended their trading, yesterday, with a rise of […]
