Stock markets are still under the influence of the attacks on Saudi Arabian oil facilities. This incident happened on Saturday. Nevertheless, it remains as one of the most important topics even several days after the incident. It is not surprising because Saudi Arabia is the second biggest oil producer in the world. Another issue which …
Stock markets and the global economy Sep 17, 2019 Read More »
The stock markets reacted to the news that the biggest processing plant operated by the Saudi Aramco is out of service. The reason is that last week on Saturday, Houthi rebels claimed responsibility for the attack which targeted the oil processing plant in Abqaiq. It was not the only facility which sustained damage. Drone attack …
Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today. EURCZK The pair is trading in tight ranges after climbing to multi-month highs recently, having found a solid support line above the 50-day moving average price. The 50-day MA also recently confirmed a golden …
Daily Market Charts and Analysis September 17, 2019 Read More »
Stock markets and regional tensions in the Middle East The stock markets in the U.S. and Europe reacted to the news that Houthi rebels attacked the oil processing plants. On Saturday, Houthi rebels claimed the responsibility for the attack which damaged the oil processing plant in Abqaiq. It is worth mentioning that this plant is …
Stock markets and regional tensions in the Middle East Read More »
For the last two years, the International Maritime Organization came up to a decision of capping the sulfur level of global marine fuels. The decision happened on January 1, 2020. Today, it has been the dominant story in the petroleum markets. Among the many issues raised by the impending 0.5% cap on sulfur in marine …
The International Maritime Organization Sulfur Assessment Read More »
Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today. EURBRL The pair is trading up on the day as the euro gained traction against the Brazilian real. Daily charts show that the euro plummeted during the previous trading session, nearly touching the 50-day …
Daily Market Charts and Analysis September 13, 2019 Read More »
Recently, T. Boone Pickens, 91 was reported to have departed. He was the CEO of BP Capital and a renowned industry energy entrepreneur who built an empire out of an initial $2,500 investment. T. Boone’s longtime spokesman Jay Rosser indicated that the Oklahoma-born tycoon, known for his folksy speech and ruthless business acumen, died surrounded …
The latest dismissal of U.S. National Security Advisor John Bolton is granting petroleum markets some supply comfort. It is with initial views that the U.S. foreign policy toward Iran and Venezuela will be less aggressive. Brent crude oil prices plunged more than 2% after President Donald J. Trump announced through Twitter that he’d fired …
U.S. National Security Advisor Alters Vision for Oil Market Read More »
Recently, a leading buyer of Venezuelan oil, China National Petroleum Corp (CNPC) cut cargo loading for in September. The cutting down happened after the state oil giant appears to avoid breaching U.S. sanctions. This is according to two sources with knowledge of the matter. Last month, CNPC made a shocker pause in loading Venezuelan oil. …
China National Corp Passes over Venezuelan Oil Charging Read More »
On Monday, Saudi Arabia’s new energy ministry indicated that the world’s top petroleum exporter would keep working with other producers. This is to achieve market balance with the OPEC-led group as the supply-curbing agreement would survive “with the will of everybody.” In a news report on Sunday, Prince Abdulaziz bin Salman, who was replaced …
New Saudi Energy Ministry Conveys OPEC+ Union Settling Read More »
Recently, petroleum major BP announced it plans to sell more U.S. crude to Asian countries. This is after its shale oil production escalates. It is also seeking to capitalize on the growth in the world’s key demand region. In a news report interview, the strategy outlined with company executives comes after BP’s move to purchase …
BP Petroleum Giant to Barter More U.S. Crude in Asia Read More »
Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today. USDCAD The pair is expected to continue its upward movement in the following days and to retest a downtrend resistance line. It’s a critical month for Canadian Prime Minister Justine Trudeau as he seeks …
Daily Market Charts and Analysis September 4, 2019 Read More »
On Tuesday, Kremlin-run petroleum giant Rosneft said that Transneft, which manages Russia’s oil pipelines, was unsuccessful to deliver an answer to a tainted-oil crisis. Since this news blew up, the problem has slashed the country’s crude exports for more than four months. In mid-April, the Russian Druzhba pipeline, which pumps 1 million barrels of …
Petroleum Giant Rosneft Failed to End Tainted Oil Crisis Read More »
Maynila, the Philippines’ economy will likely recover according to central bankers in the second half of 2019. While other Asian economies start to struggle and slow down, growth in the Philippines will likely bounce back. According to the Francisco Dakila, BSP deputy director, the central bank will be able to differentiate its policy from peers …
On Monday, stock markets located in Asia reacted to the problems created by new tariffs. Starting from Sunday, the U.S. imposed additional tariffs on Chinese products. The trade war created various issues for the stock markets in Asia and around the world. As mentioned above from September, the U.S. imposed tariffs on $112 billion on …
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