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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


    Because Of Shrinking Supplies, High Oil Prices In Global Markets

    Rocky
    Rocky
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    Posts : 280965
    Join date : 2012-12-21
    • Post n°1

    Because Of Shrinking Supplies, High Oil Prices In Global Markets Empty Because Of Shrinking Supplies, High Oil Prices In Global Markets

    Post by Rocky Mon 18 Apr 2022, 5:37 am

    Because Of Shrinking Supplies, High Oil Prices In Global Markets
    04/18/2022
    35

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    Earth News/ Oil prices rose on Monday on growing fears of tight global supplies as the crisis in Ukraine escalated, raising the prospect of tougher Western sanctions against Russia, the world's largest exporter.
    Brent crude futures rose $1.50, or 1.3 percent, to $113.20 a barrel at 0030 GMT, and West Texas Intermediate crude futures rose 98 cents, or 0.9 percent, to $107.93 a barrel.
    Both crudes rose more than 2.5 percent before the Easter holiday, on Thursday, due to news that the European Union may impose a ban on Russian oil imports.
    EU governments said last week that the bloc's executive was working on proposals to ban Russian crude, but diplomats said Germany was not actively supporting an immediate ban.
    Last Thursday, oil prices rose in thin trade ahead of a long weekend, as traders bet on news of a possible European ban on Russian oil imports in return for a larger-than-expected build in US oil inventories and a decline in refining activity in China.
    Brent crude futures rose 42 cents, or 0.4 percent, at $109.17 a barrel, while US Brent crude futures rose 23 cents, or 0.22 percent, to $104.39 a barrel at 1622 GMT.
    While the European Union did not impose a ban on Russian oil imports in response to Russia's invasion of Ukraine, the New York Times reported that EU officials were drafting a ban on Russian oil products.
    This comes at a time when Chinese refineries are preparing to reduce crude oil production this month by about six percent, a measure last seen in the early days of the Covid-19 pandemic two years ago, to relieve bloated fuel stocks, as recent closures due to an increase in Corona injuries led to Undermining consumption, according to industry sources and analysts.
    The US Energy Information Administration said, last Wednesday, that despite signs of continued disruption to global supplies, US oil stocks rose by more than nine million barrels last week, driven in part by withdrawals from strategic reserves.
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