Friday, 20 September 2019

Tag Archives: oil

Oil prices jump nearly 4% over attack on oil tankers

LONDON: The benchmark Brent Crude logged a steep jump of nearly 4 per cent over reports of attack on oil tankers in the Gulf of Oman. At 5.28 p.m., Brent was trading at $62.30 per barrel, or 3.89 per cent higher. The benchmark crude prices have remained flat for most ...

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Iran has no plans to leave OPEC despite tensions

GENEVA: Iran has no  plans to leave the Organization of the Petroleum Exporting Countries despite being treated like an enemy by some fellow members, Oil Minister Bijan Zanganeh said in an interview published. “Iran has no plans to leave OPEC…and regrets that some members of OPEC have turned this organization ...

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Oil supply drops as Iran sanctions bite: IEA

PARIS: The world’s oil supply fell last month, the International Energy Agency said on Wednesday, amid rising global tensions as US sanctions on Iran tightened and Opec+ members produced less crude in line with their pact. In its latest monthly report on the global oil market, the Paris-based IEA said ...

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Oil rallies on hopes for Washington-Beijing trade deal

SYDNEY: U.S. oil prices rose on renewed optimism that a trade deal between Washington and Beijing could be struck, as investors have been fearing that a protracted tariff war would harm global economic growth. Brent crude futures were at $70.85 a barrel at 0021 GMT, up 48 cents, or 0.7 ...

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Oil slips to $71, hit by talk of higher OPEC+ production

LONDON: Brent oil slipped to around $71 a barrel on Tuesday, pressured by expectations of higher US inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts. Analysts on average expect US crude stockpiles to have risen by 1.9 million barrels last week, the fourth straight increase. The ...

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Oil eases from four-month high on global growth worries

SYDNEY: Oil prices edged lower on Thursday, retreating from a four-month peak, as fears of a slowing global economy weighed on market sentiment. US West Texas Intermediate (WTI) crude futures were at $60.16 per barrel at 0040 GMT, down 7 cents, or 0.1 percent, from their last settlement. WTI had ...

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Oil slips on weak demand growth outlook

HONG KONG: Oil prices fell as markets eyed only modest prospects for growth in fuel demand, although OPEC-led efforts to cut output still offered some support. US West Texas Intermediate (WTI) crude oil futures were at $56.30 per barrel at 0210 GMT, down 29 cents, or 0.5 percent, from their ...

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Iran says Saudi plan to boost oil output ridicules OPEC

LONDON: Iran criticised Saudi Arabia´s plan to raise oil output and pressure from the United States on Riyadh do so, saying this was in breach of OPEC´s decision last week and belittled the producer group. Sorry, the video player failed to load.(Error Code: 101104) OPEC and a group of non-OPEC countries agreed ...

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Brazil’s oil fields auction fetches $1.9 billion

RIO DE JANEIRO: Brazil ‘s much anticipated auction of deep water, pre-salt oil blocks raked in 6.15 billion reais ($1.9 billion) in Rio de Janeiro after the government overturned a court injunction suspending the sale. The signing bonuses fell beneath the government’s goal of 7.15 billion reais, with two of ...

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Venezuela to sell oil in currencies other than dollar

CARACAS: Venezuelan President Nicolas Maduro announced his government will sell oil and other commodities in currencies other than the dollar, in a bid to weather US imposed sanctions on the embattled country. “I have decided to start selling oil, gas, gold and all other products that Venezuela sells with new ...

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