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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 fall after strong gains

    Rocky
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    • Post n°1

    Oil prices fall after strong gains Empty Oil prices fall after strong gains

    Post by Rocky Mon 10 Oct 2022, 4:24 am

    [size=35][size=35]Oil prices fall after strong gains[/size]
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    [/size]

    Economie

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    10-10-2022 | 01:55
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    [/size]


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    Alsumaria News - Economy

    Oil prices fell today, Monday, from their highest levels in 5 weeks, with the market taking profits, following strong gains last week.


    This comes amid expectations of tight supplies after the [You must be registered and logged in to see this link.] + decision to reduce production and before the [url=https://www.alsumaria.tv/Entity/44154/%D8%A7%D9%84%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A/ar/]European Union[/url] imposed a ban on Russian oil.

    Brent crude futures fell 81 cents, or 0.8 percent, to $97.11 a barrel by 0131 GMT, while 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 recorded $91.88 a barrel, down 76 cents, or 0.8 percent.






    And both contracts touched their highest level since August 30 earlier in the session, but they lost their gains, and retreated with stocks in [You must be registered and logged in to see this link.] amid thin trading with the markets closed in [You must be registered and logged in to see this link.] and [url=https://www.alsumaria.tv/Entity/47772/%D9%83%D9%88%D8%B1%D9%8A%D8%A7 %D8%A7%D9%84%D8%AC%D9%86%D9%88%D8%A8%D9%8A%D8%A9/ar/]South Korea[/url] due to public holidays.

    "Profit taking may be the main reason for pressure on oil prices today after five days of gains last week," said Tina Teng, analyst at [You must be registered and logged in to see this link.].

    Brent and 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] made the biggest percentage gains since March last week after the Organization of the Petroleum Exporting Countries ([You must be registered and logged in to see this link.]) and allies including [You must be registered and logged in to see this link.], an alliance known as [You must be registered and logged in to see this link.]+, agreed to cut production by 2 million barrels per day.
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    The [You must be registered and logged in to see this link.]+ production cuts that come before the [url=https://www.alsumaria.tv/Entity/44154/%D8%A7%D9%84%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A/ar/]European Union[/url] ban on Russian oil will reduce supplies in an already tight market.

    [url=https://www.alsumaria.tv/Entity/44154/%D8%A7%D9%84%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A/ar/]European Union[/url] sanctions on Russian crude and Russian oil products will enter into force in December and February, respectively.

    Analysts at banks and brokerages raised their forecasts for crude oil prices and expect Brent crude to rise above $100 a barrel in the coming months.

    Teng said that the possible easing of the Covid-19 restrictions imposed by the authorities in [You must be registered and logged in to see this link.] in the last quarter and in 2023 may lead to a recovery in demand for oil and allow for a further rise in its prices.
    [You must be registered and logged in to see this link.]
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