Fri, March 29, 2024

Petroleum trading

Wibest – WTI crude: Crude oil barrels stacked on top of each other.

WTI Crude Prices Rally After Inventory Drop | Wibest

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 …

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Wibest – Oil Prices: Oil pump-jack over the sunset.

Oil Prices Fall Against Weak Chinese Data | Wibest

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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Wibest – Petroleum and Oil: A fleet of oil tanker ships in the middle of the sea.

Petroleum and Oil Prices Rise After New US Sanctions

  Petroleum and oil prices went up in sessions after the United States announces new sanctions for Chinese firms. The US imposed new sanctions on Chinese companies for engaging and transacting with Iran. According to reports, Washington claimed that the firms violated the White House’s curbs on Tehran. In a press release, the US Secretary …

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Crude oil

WTI Crude Falls from Reports of Aramco’s Recovery

Oil and petroleum prices contract after the news about the recovery of the Saudi Aramco revived demand concerns. Both WTI crude oil and Brent oil prices dived in Monday’s trading sessions. The benchmark Brent oil futures declined by 0.61% or 0.39 points in trading sessions. Brent oil barrels currently trade around $63.39 against its close …

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International Maritime Organization: International Maritime Organization exterior

The International Maritime Organization Sulfur Assessment

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 …

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T. Boone: T. Boone Pickens speaks on meeting.

T. Boone Pickens, BP Capital CEO dies at 91

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 …

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National Security Advisor: John Bolton National Security Advisor

U.S. National Security Advisor Alters Vision for Oil Market

  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 …

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Petroleum: CNOOC headquarters Beijing.

China National Corp Passes over Venezuelan Oil Charging

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. …

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Wibest –energy ministry: A picture of the façade that is showing the structure and Flag of Saudi Arabia.

New Saudi Energy Ministry Conveys OPEC+ Union Settling

  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 …

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BP: BP display stand with company redesign logo in blue sky background.

BP Petroleum Giant to Barter More U.S. Crude in Asia

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 …

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Rosneft: The flag of oil company Rosneft against blue sky.

Petroleum Giant Rosneft Failed to End Tainted Oil Crisis

  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 …

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