Home
[size=35][size=35]Oil prices achieve record weekly gains[/size]
[You must be registered and logged in to see this link.]
[/size]
[You must be registered and logged in to see this link.][/size]
2022-11-05 | 02:40
[You must be registered and logged in to see this image.]
[/size]
663 views
Although global recession fears limited the gains, Brent crude futures rose $3.99, to $98.57 a barrel, at the settlement during Friday's session. Crude recorded a weekly gain of 5.12 percent.
US West Texas Intermediate crude futures also increased by $2.96, or five percent, to $92.61 a barrel during the Friday session, and its gains during the week amounted to 5.36 percent.
While demand concerns affect the market, supplies are also expected to decline with the start of the upcoming European embargo on Russian oil and a decline in US crude stocks.
"Slight weakness in the dollar and the upcoming ban on Russian oil sales are undoubtedly helping factors, with focus shifting from stagnation to supply problems," said Tamas Varga, analyst at BVM Oil Associates.
"But the main catalyst is the reports that China may loosen the restrictions of the zero-Covid policy, which will constitute a boost to its economy and oil demand," he added.
The European Union ban on imports of Russian crude is due to take effect from the fifth of December.
China is sticking to its strict anti-Covid policy after infections rose last Thursday to the highest level since August, but a former disease control official said that major changes would be made to that policy soon.
Highlighting demand concerns, Saudi Arabia lowered its Arab Light OSP to Asia in December to a premium of $5.45 a barrel over the Dubai and Oman average.
The reduction was in line with the expectations of sources in the sector based on expectations of a decline in Chinese demand for crude.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
[/size]
Economie
[size][size][You must be registered and logged in to see this link.][/size]
2022-11-05 | 02:40
[You must be registered and logged in to see this image.]
[/size]
663 views
Oil prices made solid gains over the past week, amid uncertainty over future US interest rate increases, and the imminent entry into force of a European Union ban on Russian oil while investors await the prospects of China easing its anti-Covid restrictions.
Although global recession fears limited the gains, Brent crude futures rose $3.99, to $98.57 a barrel, at the settlement during Friday's session. Crude recorded a weekly gain of 5.12 percent.
US West Texas Intermediate crude futures also increased by $2.96, or five percent, to $92.61 a barrel during the Friday session, and its gains during the week amounted to 5.36 percent.
While demand concerns affect the market, supplies are also expected to decline with the start of the upcoming European embargo on Russian oil and a decline in US crude stocks.
"Slight weakness in the dollar and the upcoming ban on Russian oil sales are undoubtedly helping factors, with focus shifting from stagnation to supply problems," said Tamas Varga, analyst at BVM Oil Associates.
"But the main catalyst is the reports that China may loosen the restrictions of the zero-Covid policy, which will constitute a boost to its economy and oil demand," he added.
The European Union ban on imports of Russian crude is due to take effect from the fifth of December.
China is sticking to its strict anti-Covid policy after infections rose last Thursday to the highest level since August, but a former disease control official said that major changes would be made to that policy soon.
Highlighting demand concerns, Saudi Arabia lowered its Arab Light OSP to Asia in December to a premium of $5.45 a barrel over the Dubai and Oman average.
The reduction was in line with the expectations of sources in the sector based on expectations of a decline in Chinese demand for crude.
[You must be registered and logged in to see this link.]
» MilitiaMan and Crew:Capital Movement - Currency- CBI - Platforms 3-30-2023
» Judy, MilitiaMan and more....Thursday AM 3-30-2023
» The Ministry of Oil announces the distribution of 990 appointees to the oil companies
» The national-democratic dispute "deepens more." And Surji: We have no representative in the negotiat
» During 240 sessions...an expert shows the volume of dollar sales required to implement the 2023 budg
» Oil: Distribution of appointees to the companies and formations of the Ministry
» The Minister of Planning is discussing with the regional director of the International Monetary Fund
» Al-Marsoumi to / NINA /: The upcoming budget taxes will raise the inflation rate in the country
» Al-Fateh: International arbitration strengthened Baghdad's oil decision and gave Al-Sudani the power
» Iraq faces pollution with 90 plans
» The Cabinet Secretariat reveals the recommendations of a governmental committee to confront the prob
» A new move by the Investment Authority with the Korean company regarding Bismayah apartments
» Al-Sudani discusses with the representative of the International Monetary Fund the government's plan
» Iraq is moving towards establishing new cities to solve the housing crisis in Baghdad and the provin
» An economist is likely to continue declining the dollar exchange rate
» After passing the "St. Lego" law..a deputy reveals a parliamentary approach to approve the budget
» Russia is calling on Iraq to open its airspace to its planes heading to Syria.. What is the relation
» Wholesale market prices in Baghdad under the microscope
» Iraq and the UAE are holding talks regarding the extradition of wanted persons and the recovery of f
» Iraq and the IMF are discussing the financial and administrative reforms adopted by the government
» An American center that evaluates the results and repercussions of international arbitration over Ku
» Disclosure of the size of the region's debts after stopping oil exports
» The Prime Minister meets the representative of the International Monetary Fund.. This is the most im
» What is the truth about the central bank’s intention to sell the dollar at the official rate to all
» KTFA Wednesday Night CC with Frank26 "K.I.S.S." 3-29-2023
» Parliamentary Defense: The decision to end the mandate for the war on Iraq will contribute to streng
» The dollar opened at a new low in the Iraqi Stock Exchange today
» Trade talks about pumping “large” quantities of food supplies and the Ramadan basket
» A specialized Iraqi center: taxes and fees in the 2023 budget on gasoline and kerosene sold to citiz
» The Central Bank of Iraq sets measures to support the dinar and comments on the drop in exchange rat
» Parliamentary Finance: Amendment to the sections of the budget and these segments are not affected
» Al-Maliki: The retirement law will be subject to the government's vision before it is voted on in pa
» Al-Saadi: Oil revenues will not cover the size of the budget, especially the investment
» Parliamentarian: Baghdad is now imposing its conditions on Türkiye and Kurdistan in exporting oil
» The framework announces the end of the investigation with 20% of Al-Kazemi’s corruption files
» Chihoud: The political blocs will nominate replacements for the dismissed ministers and governors
» Kurdistan delegation returns with hidden nostalgia..Baghdad ignores Erbil's oil requests
» Finance approves the appointment of 150 permanent staff in Anbar Health
» Identify 4 measures to support the strength of the Iraqi dinar
» Expectations of announcing a Sunni political map outside the borders of the Halbousi dictatorship
» Al-Fateh: International arbitration strengthened Baghdad's oil decision and gave Al-Sudanese the pow
» The final nail in his coffin.. Al-Halbousi is wrestling with his party leaders over the distribution
» The Minister of Construction is discussing with a delegation from the World Bank the support of road
» An economic center warns of government decisions to raise fuel prices within the 2023 budget
» The Minister of Planning is discussing with the regional director of the International Monetary Fund
» Representative agriculture: Turkey's water releases are a temporary tactic to pacify Iraq
» Parliamentary action on political leaders to legislate a law before submitting it to Parliament
» The National: Baghdad is seeking an agreement with the region to resume oil exports at full capacity
» Parliamentary Human Rights talks about the imminent enactment of three important laws
» Al-Fatlawi: Türkiye has an economic opportunity to develop its relations with Iraq
» The President of the Judicial Council visits the Federal Court in the Emirates
» The markets of Baghdad and Kurdistan are closing down at dollar prices
» Al-Sudani’s advisor reveals the reasons for the continued rise of the dollar and confirms a “imminen
» A government official is likely to delay the payment of pensioners' salaries today
» The Iraqi Central Bank’s sales of dollars increased to more than 238 million
» Finance urges the participation of international experts in the process of developing the performanc
» For the first time.. the Anti-Money Laundering Council is moving to impose banking dealings in the s
» Iraq receives compensation of about 70 million dollars for the effects of climate change
» Kurdistan announces the distribution of more than two billion dinars to farmers within 3 years
» Investment: projects that simulate the experience of the city of "Al-Rafail" in 3 governorates
» The Central Bank talks about the "signs" of its measures: the dollar began to decline against the di
» More than 5% share of renewable energy in the electricity capacity in Iraq
» Al-Halbousi's deputy talks about the salaries of state employees
» The Parliamentary Foreign Ministry calls for resolving the “Ambassadors’ file”
» Parliament gives priority to 4 laws out of 127
» A political welcome to end the "war mandate" on Iraq
» New talk from the Central Bank regarding the exchange rate and the possibility of printing a denomin
» International interest in financing small and medium enterprises in Iraq
» Deputy for the framework: Parliamentary agreement to return the budget to the government
» Al-Sudani: We will provide the necessary environment for the local elections scheduled for this year
» The President of the Republic stresses the importance of consolidating cooperation and societal coex
» Kurdistan Union: International pressures behind setting the date for the regional parliament electio
» Israel enters into a crisis because of "Kurdistan's oil"
» Iraq is the fifth largest oil exporter to South Korea last February
» Parliamentary Finance reveals the reasons for the delay in reading the 2023 budget
» A new decline in dollar prices in the local markets
» The central bank’s dollar sales increased by 16%
» Customs Authority employees announce an open sit-in until their demands are met
» Iraq is among the list of countries with the most US bonds.. Here is the order
» Low prices of “foreign and Iraqi” gold in Baghdad markets
» A directive from the Minister of Interior “Abdul Amir Al-Shammari” regarding the employees of the In
» “Do not rush to celebrate.” A British view of the French court's decision on Kurdistan's oil: an emp
» Al-Mandalawi: Minimum salaries should be sufficient to meet the needs of employees and face market f
» An agreement to approve the amendment of the salary scale for employees
» The World Bank calls on Iraq to take advantage of the oil recovery by switching to renewable energy
» The Federal Court postponed consideration of extending the work of the Kurdistan Parliament to May
» MPs upset about not presenting the budget: We fear behind-the-scenes agreements
» Al-Sudani does not act as a framer, and the latter fears that he will eat his fans in the elections
» The judiciary clarifies the mechanism of control over financial institutions and the activities of t
» The Minister of Labor announces the disbursement of a financial reward for retired workers
» Mandalawi confirms Iraq's endeavor to strengthen its foreign relations and frame them with solid agr
» Minister of Electricity: There will be an increase in production and more stability next summer
» Minister of Water Resources: Changing locations in institutions is important
» Al-Maliki: My hand is still extended to Al-Sadr and other politicians, and I refuse to keep the riva
» Prime Minister: We have initiated a set of administrative reforms and decisive initiatives to combat
» The Minister of Finance is discussing with the International Monetary Fund support for economic refo
» The Minister of Oil announces the start of gas investment operations in the Akkas field at a rate of
» Saudi Arabia makes proposals for the development of agriculture in Iraq