Home
Oil prices rebound after sharp losses
| [You must be registered and logged in to see this image.] |
Economy News _ Baghdad
Oil prices rebounded, today, Wednesday, from sharp losses in the previous session, as concerns about shrinking supplies from Russia and Libya took hold, while industry data showed a decline in US crude stocks last week.
Brent crude futures rose 98 cents, or 0.9 percent, to $108.23 a barrel by 04:25 GMT, while West Texas Intermediate crude futures for the near month, which expires on Wednesday, rose 94 cents, or 0.9 percent, to $103.50 a barrel.
Both benchmarks fell 5.2% in volatile trading on Tuesday after the International Monetary Fund on Tuesday cut its global growth forecast by a full percentage point, citing the economic effects of the Russian war in Ukraine, and warning that inflation is now a "clear and present risk" for many countries.
Global oil prices witnessed fluctuations, driven by the tightening of supply expectations after the sanctions imposed on Russia, the second largest oil exporter in the world and the main European supplier.
Other outages have heightened supply concerns. Libya's National Oil Corporation declared force majeure at the Brega oil port on Tuesday, saying it was unable to fulfill its obligations to the oil market.
In the United States, crude stocks fell 4.5 million barrels last week, according to market sources citing figures from the American Petroleum Institute on Tuesday, against expectations of an increase in stocks.
However, a weak global economic outlook and ongoing COVID-19 lockdowns in China that have hurt demand in the world's largest importer of crude are affecting prices.
[You must be registered and logged in to see this link.]
» utube 6/18/24 MM&C Iraq Dinar - IQD Update - Liberation of Economy - 6.5 Billion Dinars ($4.9 Bill
» utube 6/21/24 MM&C 0:01 / 29:03 Iraq Dinar - IQD - Capital Economy - Olympics - 3 Presidenc
» Iraq is without electricity... government silence, timid parliamentary action, and the citizen dies
» The next two days... Parliament will host the advanced staff of the Ministry of Electricity
» Iraq and Saudi Arabia are driving the growth of the project market for the Gulf region
» Trade determines the date of payment of farmers’ dues
» Do new residential cities reduce real estate prices?
» Al-Sudani stresses the necessity of developing modern aircraft to confront the possibilities of brea
» Iraq allocates 5 trillion dinars for the new Air Defense Command operations center
» "The National" about the Iraqi fuel deal with Lebanon: No money or goods in exchange for oil
» The budget is considered “numbers on paper”... revenues for the first 4 months are 15% less than wha
» Parliamentary Integrity: Electricity in Iraq has become a dilemma that cannot be solved
» Government advisor: The tripartite budget gave the government flexibility to implement its medium-te
» Parliamentary Committee: Amending the Investment Law in the next legislative term
» Budget 2025...the upcoming changes, most notably salaries
» Signs of reconciliation or permanent divorce: Muqtada al-Sadr and the coordination framework are at
» Politician: The statements of the new American ambassador are a challenge to the government
» Parliamentarian: Washington is exploiting the spook card as a weapon against Iraq
» Al-Salami: Electricity promises are just words
» Iraq develops "forensic medicine" for "greater justice" for victims of crimes and genocide
» An international organization urges Iraq to adjust working hours to confront the “deadly heat”
» Kurdistan brings good news about water... a “significant” increase in the reservoirs of the Dokan an
» Closing 52 various illegal projects in an Iraqi governorate
» Transporting 150 black oil trucks from the Doura refinery to the ports during Eid
» To increase completion rates...a government plan to expand work in Muthanna
» Overthrowing networks that practice fraud and misleading citizens into appointments in three governo
» Finance: Directly distributing current expenditures, revenues and investment projects for the year 2
» Changes in the digital economy and their impact in Iraq
» Finance begins distributing estimates of the state's current expenditures, revenues, and public inve
» Al-Sudani recalls the end of the international coalition’s tasks by “strengthening the air capabilit
» The Minister of Electricity will be in Parliament next month
» "Costs" occupy Iraqis...an explanation for why ministers appear in "winter uniforms" despite the hea
» In numbers... revealing the number of members of the security services in the Kurdistan region
» Parliament indicates the need for modernization in the Iraqi camps: they are poor and do not have me
» Al-Sudani confirms the continuation of efforts to enhance Iraq’s air capabilities within the phase o
» “Kaka Hama”: Nechirvan Barzani’s visit to Iran melted the ice between Tehran and Erbil
» Agriculture: Reclamation of 4 million dunums of desert land
» Al-Sumaria Newsletter.. Parliament fails to hold procrastinating ministers accountable and criticize
» Learn about the dollar exchange rates on Iraqi stock exchanges
» Report: Iraq is the most prominent importer of Iranian home appliances during 2023
» Has the truce with the Americans ended? Parties fear escalation, and the Sudanese is on the line
» Finance begins financing the salaries of state employees and affiliates for the month of June
» Parliamentary Defense talks about “measures” to prevent the sale of weapons outside licensed stores
» Finance begins distributing estimates of current expenditures, revenues, and 2024 projects for the s
» Planning: Training 120,000 enumerators in preparation for the population census
» Between oil and debt: Iraq faces the challenges of the budget deficit
» Economic clarification: Why do Iraq’s reserves not rise despite the rise in oil prices?
» Resources: Removal of about 25,000 encroachments on river banks
» A deputy comments on the possibility of Iraqi oil reaching Israel through some Arab countries
» Renewed dangers.. “Thirdness” and “badness” terrify parents and calls to legislate a law in Iraq
» utube 6/16/24 MM&C Iraq Dinar-IQD Update-FX-NYSE Arca-ATMs Deployment Iraq-Ki Smart Card- JPMorgan
» A parliamentary hint on an “agreed upon” candidate for the Presidency of the House of Representative
» Iraq confirms the adequacy of its water reserves for this season
» The Ministry of Planning announces the inclusion of 500 villages in Social Fund for Development proj
» Fake purchase receipts topple the chairman and members of the implementation committee at Baiji Refi
» A representative calls for supporting Diyala with electricity from Baghdad
» A government advisor reveals a comprehensive plan to combat corruption and recover funds
» A Sudanese parliamentary proposal to exempt solar panels from customs duties
» Health announces the registration of one million citizens with health insurance
» World Bank: Spontaneous gas combustion associated with oil production is rising
» Resources develops a new plan for water releases based on temperatures
» Parliamentary Economy: Al-Faw Port is dust and we have contracts that, if revealed, would “slap the
» Including Iraq.. The World Bank: 9 major countries account for 75% of gas flaring
» A comprehensive government plan to combat corruption and recover funds
» America: We are working with Iraq to create a favorable environment for our companies.. What about t
» Ethereum rises on the back of SEC investigations
» Independents plan to "circumvent" influential people: Courtesy prevented Parliament from monitoring
» What is the possibility of renewed conflict between the factions and the Americans after the appoint
» Iraq is at the heart of the storm of the "new approach" of the American administration in the Middle
» Kurdish party: Young people are immigrating to Kurdistan due to unsuitable living conditions
» In the time of Sudanese... Did Iraq's balance shift from Iran towards the Gulf?
» Kirkuk.. The National Union agrees with the Arabs “embarrassed by the Turkmen” to “rotate the govern
» Barzani's party reveals its position on the elections: We do not want to postpone and are ready for
» Independents plan to "circumvent" influential people: Courtesy prevented Parliament from monitoring
» Electricity directs to intensify the work of maintenance teams in Baghdad
» Al-Sudani directs us to be open to the success stories and creativity of people with special needs
» Al-Sudani congratulates Iraq for ranking first in the Arab world and seventh in the world in the Tim
» “Leave the matter of the Council and Al-Sadr to me.” Soleimani did not tell the truth about Khamenei
» With anticipation for the opening of stock exchanges, dollar prices maintain their rise
» Trade launches a campaign to follow up on measures to protect food storage
» Revealing a comprehensive government plan to recover the stolen funds
» Financial Control: We are about to build a new strategy
» Nearby building a new strategy for financial oversight in Iraq
» Will the grant for displaced people be affected in the 2024 budget?
» Al-Sudani announces 3 projects to develop the sports sector in Iraq
» Romanowski's successor in Baghdad.. Are you redistributing roles and what is Israel's influence in t
» Minister of Labor: The government pays great attention to caring for the elderly
» Registering one million Iraqis in (health insurance)
» The CAS International Court praises the Iraqi judiciary for establishing the Center for Sports Settl
» The Prime Minister's Advisor reveals two projects related to the local government in Kirkuk
» Minister of Immigration: The Prime Minister is keen to deliver the $4 million grant to families retu
» Revealing two paths to resolve the political impasse in Kirkuk
» Millions of security services have not resolved the worrying issue... the escalation of murders and
» International Finance: Economic reform in Iraq is witnessing an increasing pace and we have invested
» Water Resources issues guidance on water pumping stations
» Parliamentary Defense: The scheduling of security laws will take place after the legislative recess
» Kurdistan Federation: Legislating the oil and gas law will resolve the disputes between Baghdad and
» Kurdistan Federation: Legislating the oil and gas law will resolve the disputes between Baghdad and