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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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    Oil rises as concerns about banking sector turmoil recede

    Rocky
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    Oil rises as concerns about banking sector turmoil recede Empty Oil rises as concerns about banking sector turmoil recede

    Post by Rocky Mon 27 Mar 2023, 5:30 am

    Oil rises as concerns about banking sector turmoil recede

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    Economy News-Baghdad
     Oil prices rose in early trade on Monday as concerns about turmoil in the banking sector eased.
    Brent crude futures rose 33 cents, or 0.4 percent, to $75.32 a barrel by 0040 GMT. The price of US West Texas Intermediate crude was $69.65 a barrel, up 39 cents, or 0.6 percent.
    Brent rose 2.8% last week, while WTI rose 3.8% after banking sector turmoil subsided.
    Tony Sycamore, market analyst at IG, said the rise in oil prices was a comfortable recovery and part of a correction after a 16 percent drop in the past two weeks.
    Prices also rebounded after Russian President Vladimir Putin said he would deploy tactical nuclear weapons in neighboring Belarus, escalating geopolitical tensions in Europe over Ukraine.
    Russian Deputy Prime Minister Alexander Novak said on Friday that Moscow is very close to achieving its goal of reducing crude production by 500,000 barrels per day, to about 9.5 million barrels per day.
    Data from industry sources and Reuters accounts showed on Friday that Russia plans to cut refinery operations (TADAWUL:2030) in April, allowing it to maintain crude oil exports while adhering to previously announced production cuts.
    Looking at crude oil, Russian oil product exports have been hit hardest by far by the recent EU embargo, with tons of diesel on board ships waiting for buyers.


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