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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


    After the worst annual start in 30 years, oil prices are rising again

    Rocky
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    • Post n°1

    After the worst annual start in 30 years, oil prices are rising again Empty After the worst annual start in 30 years, oil prices are rising again

    Post by Rocky Thu 05 Jan 2023, 4:07 am

    [size=35][size=35]After the worst annual start in 30 years, oil prices are rising again[/size]
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    Economie

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    2023-01-05 | 00:11
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    Oil prices rebounded

    today, Thursday, after falling more than 9% at the start of the new year, in the worst annual start in more than 30 years, as investors took advantage of the decline to buy futures contracts based on expectations that demand for fuel will remain stable in the long term. .


    The recovery came after two days that witnessed sharp declines, as investors worried about a possible global recession, and while economic indicators appeared short-term in the two largest oil consumers in the world, the United States and[You must be registered and logged in to see this link.], weak.






    And by 01:36 GMT, Brent crude futures rose 59 cents to $78.43 a barrel, while US West Texas Intermediate crude futures rose 69 cents to $73.53 a barrel, according to ".[You must be registered and logged in to see this link.]During the

    previous two sessions, Brent and US crude fell by more than 9%, in the largest loss in two days at the beginning of a year since January 1991, according to Refinitiv Eikon data.

    Economic data in the United States affected prices in the previous session.
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    The Institute for Supply Management said that US manufacturing contracted further in December, falling for the second month in a row to 48.4 from 49 in November, the weakest reading since May 2020.

    A survey also showed[url=https://www.alsumaria.tv/Entity/43995/%D9%88%D8%B2%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D8%B9%D9%85%D9%84/ar/]Ministry of Labor[/url]In the US, job vacancies decreased by 54,000 to 10.458 million on the last day of November, raising fears that the Federal Reserve (the US central bank) will take advantage of the scarce job market as a reason to keep interest rates high for a longer period.

    US crude oil stocks rose 3.3 million barrels last week, while gasoline stocks jumped 1.2 million barrels, and distillate stocks fell, according to market sources citing figures from the American Petroleum Institute.

    Government data on inventories is due Thursday.

    As for China, WHO officials said, the data shows that no new variant of the Corona virus was found there, but the country does not provide the real numbers of those who have died as a result of the recent rapid outbreak of the virus.

    Fears of economic turmoil in light of the spread of "Covid-19" in parts of the country[You must be registered and logged in to see this link.], the largest oil importer in the world, to increase pessimism about oil prices.

    And the Chinese government boosted oil derivatives export quotas in the first batch of 2023, which indicates expectations of weak domestic demand.
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