Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Oil prices continue to soar.. Brent exceeds $85

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 271595
    Join date : 2012-12-21
    • Post n°1

    Oil prices continue to soar.. Brent exceeds $85 Empty Oil prices continue to soar.. Brent exceeds $85

    Post by Rocky Tue 04 Apr 2023, 4:31 am

    [size=35][size=35]Oil prices continue to soar.. Brent exceeds $85[/size]
    [You must be registered and logged in to see this link.]
    [/size]

    Economy

    [size][size]
    [You must be registered and logged in to see this link.][/size]
    2023-04-04 | 03:05
    [You must be registered and logged in to see this image.]
    [/size]


    663 views


    Alsumaria News - Economy

    Oil prices rose in early Asian trading today, Tuesday, after the OPEC + decision to cut more production shook the markets yesterday, while investors' attention shifted to the prospects for demand and the impact of high prices on the global economy.


    Brent crude futures were up $0.41, or 0.48%, at $85.34 a barrel by 04:43 GMT. As for US West[url=https://www.alsumaria.tv/Entity/2861960649/%D8%AA%D9%83%D8%B3%D8%A7%D8%B3 %D8%A7%D9%84%D9%85%D8%AA%D9%88%D8%B3%D8%B7%D8%A9/ar/]Texas Intermediate[/url]crude futures, they amounted to $80.83 a barrel, up $0.41, or 0.51%.
    [ltr]
    [size=16]







    0 seconds of 0 secondsVolume 0%




    [/ltr]



    Both benchmarks jumped more than 6% yesterday, Monday, after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, in what is known as the “OPEC +” alliance, shook the markets by announcing on Sunday plans to cut production targets by another 1.16 million barrels per day.

    The recent pledges raise the total volume of “OPEC +” cuts to 3.66 million barrels per day, including two million barrels in October, according to calculations.[You must be registered and logged in to see this link.], which is equivalent to about 3.7% of global demand.

    Said the head of (NS Trading), which is affiliated with[url=https://www.alsumaria.tv/Entity/995257576/%D9%86%D9%8A%D8%B3%D8%A7%D9%86 %D8%B3%D9%8A%D9%83%D9%8A%D9%88%D8%B1%D9%8A%D8%AA%D9%8A%D8%B2/ar/]Nissan Securities[/url]Hiroyuki Kikukawa: “The buying wave sparked by the OPEC + decision to cut production (in anticipation of a significant rise in prices) subsided, and the market’s attention shifted to future demand expectations.”

    "In the short term, demand is expected to pick up due to the summer driving season, but higher oil prices may increase inflationary pressures and prolong interest rates in many countries, which could weaken demand," he added.

    OPEC+ production constraints prompted most analysts to raise their forecast for Brent crude prices to around $100 a barrel by the end of the year.

    [url=https://www.alsumaria.tv/Entity/122371/%D8%BA%D9%88%D9%84%D8%AF%D9%85%D8%A7%D9%86 %D8%B3%D8%A7%D9%83%D8%B3/ar/]Goldman Sachs[/url]raised its forecast for Brent to $95 a barrel by the end of this year, and to $100 for 2024.

    However, the decision of the oil alliance increased investor about rising costs for companies and consumers, fueling fears that an inflationary shock could lead to concerns the global economy as a result of a rise in oil prices. Oil prices to further raise interest rates.[/size]
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Wed 05 Jun 2024, 8:03 pm