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


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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

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Established in 2006 as a Community of Reality

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


    Oil Prices Are Up About 9% After Losing 13% In The Previous Two Weeks

    Rocky
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    Rocky
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    • Post n°1

    Oil Prices Are Up About 9% After Losing 13% In The Previous Two Weeks Empty Oil Prices Are Up About 9% After Losing 13% In The Previous Two Weeks

    Post by Rocky Fri 15 Apr 2022, 8:06 am

    [size=38]Oil Prices Are Up About 9% After Losing 13% In The Previous Two Weeks 
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    LAST UPDATE 04/15/2022 | 2:28 AM
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    Crude oil prices jumped nearly 3% on Thursday and about 9% for the week as traders remained concerned that the European Union might gradually ban Russian oil imports.
     Gains in oil were limited earlier in the day as it appeared that Chinese refineries were set to cut crude production by 6% in March, and the decline would be on a scale last seen in the early days of the COVID-19 pandemic two years ago.

    However, the market resumed its rally in the past two sessions after US media reported that the European Union is moving towards adopting a phased ban on Russian oil, to give Germany and other countries time to arrange alternatives.
    Russia remains Europe's largest energy supplier and any talk of the EU looking for alternative supplies has so far been met with skepticism.
    Soon after the media reports emerged, buyers pounced on more crude oil futures contracts.
    Global Brent crude ended at $2.92, or 2.7%, on the day at $111.70 a barrel. For the week, Brent is up 8.7%, after two consecutive weekly losses that left it down 13%.
    The International Energy Agency warned on Wednesday that nearly 3 million barrels per day of Russian oil could be cut off from next month, due to sanctions or because buyers voluntarily avoid Russian shipments.
    Major global trading houses plan to limit purchases of crude oil and fuel from state-controlled Russian oil companies from May to remain compliant with Western sanctions, according to media reports on Wednesday.
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