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Tuesday - July 5, 2022

#Oil Prices

World

US Crude Oil Futures Keep Falling

The price of WTI (West Texas Intermediate) crude oil for June delivery has dropped below $7 per barrel due to weak demand amid continued restrictive measures aimed at containing the COVID-19 pandemic. As of 18:08 GMT, June futures for WTI crude were trading down 51.1 percent at $9.99 per barrel, ...

April 21, 2020

World

US to Use Historically Low Oil Prices to Fill Strategic Reserve

The US Department of Energy’s (DoE) emergency petroleum supply will be filled to the brim, Trump said at the White House Coronavirus Task Force briefing on Monday. “We are filling up our national petroleum reserves. We are looking to put as much as 75 million barrels into the reserves themselves,” ...

April 21, 2020

World

Oil Prices Collapse on Storage Fears, Asia Equities Mostly Down

Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while signs that the coronavirus may have peaked in Europe and the United States were unable to help Asian equities extend their recent advances. US crude benchmark West Texas Intermediate ...

April 20, 2020

World

Price for WTI Oil Falls Below $19 Per Barrel for First Time Since January 2002

The price for WTI oil has fallen below $19 per barrel for the first time since 31 January, 2002, trading data showed on Friday. As of 10.06 a.m. Moscow time (07:06 GMT), the price for WTI futures for delivery in May was falling by 4.28 percent to $19.02 per barrel, ...

April 17, 2020

Lebanon

Oil Prices Jump after OPEC+ Agree on Output Cut Deal

International crude oil prices surged on Monday after the Organization of the Petroleum Exporting Countries (OPEC)and its allies including Russia agreed on a nearly 10 per cent cut in oil production. In the 10th extraordinary OPEC and non-OPEC ministerial meeting held via video conference, on Sunday, the world”s top oil ...

April 13, 2020

World

Kremlin: Friday Energy Talks with Saudi Not Scheduled

Russia and Saudi Arabia have not started energy talks yet, and no negotiations between the countries’ leaders are scheduled for Friday, Russian presidential spokesman Dmitry Peskov said. Russian President Vladimir Putin has recently said that Russia and other oil exporters had to find a solution to mitigate the oil price ...

April 2, 2020

World

US Crude Dips Below $20 as Lockdowns Wipe Out Demand

Oil prices fell sharply on Monday, with US crude briefly dropping below $20 and Brent hitting its lowest level in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further. Brent crude, the international benchmark for oil prices, was down ...

March 30, 2020

World

Oil Prices Head for Worst Weekly Loss in over a Decade

Oil prices were headed for their worst weekly loss in more than a decade Friday after Saudi Arabia and Russia launche a price war and the coronavirus pandemic sparked an equities meltdown. US benchmark West Texas Intermediate reversed earlier losses in afternoon trade, rising about two percent to around $32 ...

March 13, 2020

Middle East

Gulf Stock Markets Slide on Virus, Oil Fears

Stock markets in energy-rich Gulf states tumbled Thursday with Saudi shares down more than 4.0 percent following worldwide losses amid fears over the coronavirus pandemic and an oil price war. Dubai Financial Market dived more than 7.0 percent at the open on the last trading day of the week. Abu ...

March 12, 2020

World

Putin Says Global Markets Turmoil “Can Create Opportunities”

Russian President Vladimir Putin said that the turmoil in global markets create not only problems, but also opportunities. “I’m not just hoping – I’m confident that Russia will go through this turbulent period with dignity and a sense of calm,” Putin said, speaking to investors at his Novo Ogarevo residence ...

March 11, 2020