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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 are falling back in the global markets

    Rocky
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    • Post n°1

    Oil prices are falling back in the global markets Empty Oil prices are falling back in the global markets

    Post by Rocky Sat 11 Mar 2023, 4:07 am

    [size=35][size=35]Oil prices are falling back in the global markets[/size][/size]
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    Economy

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    2023-03-11 | 03:17
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    Alsumaria News - Economy

    Oil prices fell by more than 3 percent on a weekly basis, despite their rise in the last sessions of the week, Friday, after better-than-expected US jobs data.


    The weekly decline came on the back of jitters caused by a possible hike in US interest rates.

    Expectations of raising interest rates in the largest economy in the world and in[You must be registered and logged in to see this link.]clouded the outlook for global growth, and pushed both benchmarks lower this week.






    However, the US Federal Reserve may not find much justification for raising interest rates at the pace or the large amount that some expected, after a government report, on Friday, revived hopes that inflation would recede, amid signs that the labor market, which had been faltered by the pandemic, would return to normal.

    Brent crude recorded a weekly decline of 3.55 percent, and US West Texas crude fell by 3.77 percent.

    And the two benchmarks reduced the size of the decline in the last sessions of the week, Friday, as Brent rose by $ 1.19, or about 1.5 percent, to reach $ 82.78 a barrel, while West Texas Intermediate crude increased by 96 cents, or 1.3 percent, to $ 76.68 a barrel.

    The Chairman of the Federal Reserve noted[url=https://www.alsumaria.tv/Entity/4010190066/%D8%AC%D9%8A%D8%B1%D9%88%D9%85 %D8%A8%D8%A7%D9%88%D9%84/ar/]Jerome Powell[/url]He raised rates at a higher and perhaps faster rate, saying that the US central bank had initially made a mistake when it thought that inflation was transient.

    The Council will hold its next meeting from March 21 to 22.

    A stronger dollar makes oil more expensive for holders of other currencies.

    US jobs data for February beat expectations, with non-farm payrolls increasing by 311,000 jobs, compared to expectations in a survey.[You must be registered and logged in to see this link.]With an increase of 205 thousand jobs.

    This is likely to prompt the Federal Reserve to raise interest rates for a longer period, which analysts say will affect oil prices.

    On the supply side, the US has reportedly privately urged some commodity traders to set aside concerns about shipping Russian oil, which has been capped, in a bid to prop up supplies.

    Investors are closely watching the cut in exports from[You must be registered and logged in to see this link.], which decided to cut oil production by 500,000 barrels per day in March.


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