Showing results for "Prince Muqrin"

Shortage of supply pushing oil prices higher

  • Last week, oil prices continued their rallies, as demand looks strong with the starting of the US driving season and the gradual reopening in China after two months of strict lockdowns in Shanghai. The prices also rose due to the worsening global oil supply picture. On Thursday, when writing ...
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Oil prices are at loggerheads with harsh economic realities

  • Last week, oil prices continued fluctuating in the range of $100-113 a barrel. During the week, there was news that moved prices up and down without changing the market’s medium-term outlook. On Thursday, when writing this piece, oil prices rose modestly after a strong rally on Wednesday, wit...
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Geopolitical tensions continue to dominate the oil market

  • The news that Russia and Ukraine had made progress in the peace talks in Istanbul was positively perceived by the oil market, and oil prices moved to decline early last week: Brent fell by 1.64 percent to $107.7 a barrel on Tuesday, West Texas Intermediate, or WTI, by 1.62 percent to $104.24 a ...
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Ukraine crisis makes oil at $130-150 a barrel very possible

  • The crisis in Ukraine has dominated the headlines in the past two weeks and will likely continue to do so until some form of settlement is reached. In the meantime, it has further enhanced the bullishness on the energy markets. On Feb. 24, Brent was above $100 a barrel for the first time in 7...
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Oil prices remain at their highest amid growing supply fears

  • The psychological barrier of $100 for a barrel of oil, which until recently was viewed as remote, is now a stone’s throw away. On Friday, the price of Brent traded above $93 a barrel, an increase of more than 18 percent since the beginning of 2022. In the US, the price of WTI has followed a s...
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OPEC+ may abandon its current production strategy

  • The first key event of the past week was the announcement of the auction of 50 million barrels of crude oil from the US Department of Energy’s strategic petroleum reserve, of which 32 million barrels will be an exchange over the next several months, releasing oil that will eventually return to ...
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Confident economic recovery is pushing up oil demand

  • The dynamics of oil prices in October showed another high increase, with Brent prices crossing $85 a barrel and West Texas Intermediate tipping $84 a barrel. This rally was supported by expectations of high demand and a supply shortage. However, in the last trading week of the month, prices p...
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Energy crisis, OPEC+ discipline push prices near highs

  • In mid-October, Brent reached three-year highs despite worrying import data from China, with traders choosing to focus on increasing oil demand elsewhere. On Oct. 15, Brent prices exceeded 2018 levels, fluctuating around the $85 a barrel mark, and West Texas Intermediate reached $82.3 — its h...
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Oil rally continues on the eve of OPEC+ meeting

  • On the first trading day of October and the last trading day of the week, oil prices moved to growth, with Brent trading above $79 a barrel and West Texas Intermediate near $76 a barrel. Despite the weakness of growth momentum against the backdrop of a strong dollar and mixed results on invento...
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