Petroleum and oil prices went tumbling down in today’s trading after a huge buildup in US crude stockpiles. The American Petroleum Institute or API reported earlier this Thursday the sharp rise in crude stocks. Following that news, WTI crude or West Texas Intermediate oil dropped 1.03% or 0.55 points in Thursday’s trading. A barrel of …
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Grain markets and futures went down in trading sessions following US-China trade war news. Corn, rice, and wheat futures all declined on Wednesday’s trading, while the US soybeans contract steadied. The United States corn futures lost 0.58% or 2.26 points in today’s session. A bushel of corn currently trades for $390.62, sliding lower from its …
Shell oil company CEO Ben van Beurden appeared in front of the media to express the concern of the firm. The company, Royal Dutch Shell, sees plentiful opportunities to continue business from petroleum and gas in the years to come. The statement came even after investors and government officials increased pressure on energy firms as …
Petroleum and oil prices have died down in today’s trading as traders remained skeptical about the partial trade deal. Prices have rallied again last week following the attack on the Iranian tanker ship on the coast of Jeddah. The market appears to have calmed down a few days after the incident and have focused on …
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An Iranian oil tanker ship was hit by an armada of missiles near the coast of Saudi Arabia. The National Iranian Oil Company or NOIC-owned tanker was attacked near Jeddah. The tanker ship was reportedly 60 miles or 97 kilometers away from the Saudi Arabian port. Two rockets struck the Iranian tanker ship on Friday. …
OPEC Countries and its allies just allowed Nigeria’s plea to increase its oil production output under the organization’s quota. The new deal will grant Nigeria to produce 1.774 million barrels per day, over the OPEC’s original quota. As agreed by OPEC countries in December 2018, Nigeria’s first target was just 1.685 million barrels per day. …
Electricite de France SA or EDF Paris added more funds to its nuclear project in Flamanville, France. Reports say the French energy giant added €1.5 billion to its long-running troubled project in Manche department, north-western France. The company released an official statement on Wednesday morning to announce the new funds for the site. EDF …
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An organization of food workers filed a lawsuit against the US president’s move towards pig slaughter lines. The United Food and Commercial Workers International Union says that the rule results in more injuries to employees of slaughterhouses. The case is 19-cv-02660 and is in the US District Court in Minnesota. According to the report, …
WTI crude oil and Brent oil prices rallied this Monday’s trading sessions as traders fear about the global economy. Aside from that, crude prices also received support from the biggest weekly selloff for more than two months. Crude prices are attempting to bounce back from the biggest weekly fall since-mid July. Oil traders are now …
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West Texas Intermediate or WTI crude oil and benchmark Brent oil prices went up in today’s sessions. Demand concerns were raised after weak US economic data was released, causing WTI crude and Brent oil to gain. Aside from that, the big loss in oil inventory stocks also helped petroleum and oil prices to rally in …
WTI Crude Prices Go Up Despite Weak US Data | Wibest Read More »
Spot gold prices contracted in Thursday’s trading as traders shift their focus towards the US non-farm payroll. Wall Street is preparing as analysts forecasts a sharp drop in the NFP report on Friday. Several factors affect spot gold prices in today’s trading, causing it to swing from green to red territories in sessions. Among those …
After a few days of continuous contraction, WTI crude oil prices finally go up. The upsetting weak economic data from the United States pushed down global stock markets thus triggering oil to go up. As traders feel some concern for supplies, WTI crude and Brent oil jump over one percent in sessions. West Texas Intermediate …
WTI Crude Prices Rally After Inventory Drop | Wibest Read More »
The oil market shifts its focus to the OPEC production cuts for September. After the attack against Saudi Arabia, OPEC oil output has fallen to an eight-year low for the previous month. The drop deepened the impact to the supply pact and the US sanctions on Venezuela and Iran. According to reports, the Organization …
Oil prices contract in today’s trading as the Chinese economic outlook continues to falter despite improvement in other sectors. Traders remain worried about China’s economy and its performance in the long run as the trade war continues. The prolonged dispute between the US and China have dented the demand growth of one of the largest …
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The British tanker ship finally left Iran after suffering from capture two months ago. The tanker ship flagged Stena Impero sailed away from Iran’s Bandar Abbas port on Friday. The departure of the Stena Impero from the Iranian port was confirmed by a local Iranian shipping organization on Friday. According to reports, the British tanker …
