The seesaw of results from weekly crude inventory reports caused oil and petroleum prices to steady this Thursday. Prices are still on their third-month highs as of today. Earlier today, the US Energy Information Administration reported a draw in American crude oil stockpiles. That follows an unexpected increase reported by the American Petroleum Institute on …
Inventories Dip, Oil and Petroleum Prices Steady | Wibest Read More »
Yesterday, U.K.’s Prime Minister Boris Johnson made a comment which influenced the European stock markets. Johnson promised to block an extension of EU trade talks beyond 2020. His comment revived the fear of hard or “cliff-edge” Brexit. Johnson’s party won a parliamentary majority. As a result, it will be very hard for his opponents to …
Oil petroleum prices halt their upward momentum this Wednesday thanks to the rising US crude stockpiles. But despite today’s contraction, futures are still expected to continue climbing in coming sessions thanks to strong US economic reports. Aside from those fundamentals, prices are also still affected by the ongoing US-China ceasefire. Traders are moving cautiously due …
Stockpiles Rise, Oil Petroleum Pauses Rally | Wibest Read More »
On December 17, mainland Chinese stocks strengthened their positions. The Shanghai Composite jumped 1.27% to close at 3,022.42. Meanwhile, the Shenzhen composite gained 1.30% to 1,708.41. Let have a look at the Shenzhen component; its index increased by 1.45% to 10,306.03. In Hong Kong, the Hang Seng Index added 1.06% during its final hour of …
European stocks declined on Thursday. The worldwide rally connected with a “phase one” trade deal was not enough to boost the stocks. Pan-European Stoxx 600 fell by 0.5%. Household goods declined by 1,9%. Meanwhile, oil and gas stocks gained 0.6%. It is worth mentioning that on Monday, the Stoxx 600 index reached an all-time high …
The tensions in the Middle East and the world of crude oil doesn’t only span to Iran and the Persian Gulf. Just recently, a Turkish military drone headed to Northern Cyprus as tensions for gas exploration heightens. With that move, Turkey has pulled the tension strings in the eastern Mediterranean tighter. The unmanned aircraft was …
Turkish Drone Flies to Cyprus, Gas Tension Escalates Read More »
It is no secret that Bitcoin is the oldest and biggest cryptocurrency on the market. It is worth mentioning that Bitcoin’s price doubled over the last 12 months. Nevertheless, Bitcoin must deal with a lot of problems. One of the most serious challenges is to convince authorities around the world. Problems connected with Libra showed …
Without further details or follow-ups on the US-China trade war, oil and petroleum prices decline this Monday. Prices stopped rallying after. Looking at it, the somewhat ceasefire between the feuding giants is what the American economy needs. However, it wasn’t enough to keep prices rallying as traders seek further clarity on the agreement. WTI crude …
Oil and Petroleum Prices Slip on Absent Agreement Details Read More »
Oil petroleum traders rejoice as prices rally after Trump agrees to a partial trade deal with Beijing. Bulls advance this Friday, pushing prices to ranges last seen in September. The WTI crude oil contract surged 0.52% or 0.31 points in trading sessions. Prices go forth from their previous close of $59.18 to $59.49. WTI crude …
Trump Agrees to Deal, High Hopes for Oil Petroleum Read More »
Thanks to OPEC’s revised growth forecasts for demand growth, oil and petroleum prices surge this Thursday. Earlier today, the Organization of Petroleum Exporting Countries revised next year’s deficit forecast. Oil bulls took bloc’s announcement as an opening to drive futures higher this trading session. Well, since December 5, oil and petroleum prices have fluctuated from …
Oil and Petroleum Prices Rise from Revised Forecasts Read More »
On December 11, Saudi Aramco which is the leading oil producer had a great day. The world’s largest initial public offering (IPO) surpassed the expectations. The state-owned company debuted on the country’s stock exchange on Wednesday. Saudi Arabian company changed its plans regarding the stock markets multiple times. Hopefully, investors do not have to wait …
The Bering Sea, where the largest fish from the United States hail, is in danger. Climate change, a major problem faced by the world, bigger than Trump’s trade war, is stirring problems in US fisheries. Soon, the prices of fish from the area such as Pacific cod and halibut may be affected greatly. Yesterday, scientists …
Climate Change Stirs Fisheries in The US | Wibest Broker Read More »
The US Federal Reserve dominates the news this week in the forex markets. Just moments away, the bank will finally reveal its highly anticipated interest rate decision for December. The nonfarm payroll rolled out promising figures that supported the markets’ hope of no easing. More traders believe that the bank will meticulously weigh in the …
US Federal Reserve Takes Over This Week’s Headlines Read More »
People interested in commodity trading should learn more about the major commodities. It is important to have at least a general understanding of main commodities such as gold, silver natural gas, etc. As a reminder, a commodity is a raw material or agricultural products in commerce that is interchangeable with other commodities. Generally, commodities are …
It is a well-known fact; Saudi Arabia is the second-largest oil-producing country in the world. Moreover, its state-owned company Saudi Aramco is the most profitable publicly listed company in the world. The oil industry has crucial importance for the local economy. Recently, Saudi Arabia announced a budget for 2020. According to the information, the kingdom’s …
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