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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

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    The rise in oil prices amid weak trading, supported by the decline of the dollar

    Rocky
    Rocky
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    The rise in oil prices amid weak trading, supported by the decline of the dollar Empty The rise in oil prices amid weak trading, supported by the decline of the dollar

    Post by Rocky Wed 21 Dec 2022, 5:48 am

    The rise in oil prices amid weak trading, supported by the decline of the dollar

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    Economy News-Baghdad
    In a session characterized by very weak liquidity, oil prices rose ahead of the holiday season, supported by a weaker dollar and the possibility of an increase in energy demand after China abandoned its “zero Covid” policy.
    West Texas Intermediate crude prices stabilized above the level of $76 a barrel, after fluctuating most of the time during the trading session, supported by the weakness of the dollar, which raises the attractiveness of the commodities whose prices are based on it.
    China's efforts to revive its economy by removing severe restrictions related to the Covid-19 virus raise hopes for an increase in consumption in the long term.
    Oil is also receiving support from continued supply turmoil in the United States. TC Energy has pushed back the date to restart the Keystone pipeline by another week, and has now set its target for December 28 or 29, according to people familiar with the matter.
    On the other hand, production in North Dakota has decreased by about 300,000 barrels per day since a winter storm last week, and it will take some time for it to return to its previous levels.
    Oil is still on its way to recording a second monthly loss amid a severe liquidity shortage that makes prices vulnerable to severe fluctuations.
    The US Federal Reserve continues its policy of raising interest rates by large percentages, while a senior official in the European Central Bank stated that reducing the level of inflation will take time.
    The Saudi Energy Minister reminded dealers in the oil markets that the “OPEC +” coalition can and will take decisions based on its vision of market conditions and may change its direction accordingly.
    Prince Abdulaziz bin Salman made it clear that “OPEC +” has no choice but to remain proactive and proactive in light of the causes of uncertainty facing the markets.


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