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Oil Prices Rise as Stockpiles Decrease, Supply Tightens

EghtesadOnline: Oil prices on Wednesday extended the previous day's small gains after an industry report showed US crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as Covid-19 cases surge.
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Publish Date:01/July/2021 | 19:25

Oil Prices Rise to Highest in a Year

EghtesadOnline: Oil prices climbed on Friday to their highest levels in a year, extending a run of strong gains this week, boosted by the continued commitment of producers to hold back crude supply and positive signs of economic growth in the United States.
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Publish Date:06/February/2021 | 13:44

Oil Rises on Falling US Crude Stocks

EghtesadOnline: Oil prices rose on Wednesday after hitting their highest in about a year in the previous session, supported by an unexpected draw in US crude stockpiles and an OPEC+ estimate of a global oil market deficit this year.
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Publish Date:04/February/2021 | 17:10

Brent, WTI Prices Steady

EghtesadOnline: Oil prices held steady on Monday as a better than expected quarterly rebound for China’s economy countered fears over soaring Covid-19 cases around the world and tight restrictions that could dent economic growth and fuel consumption.
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Publish Date:19/January/2021 | 15:12

MPs Warn Oil-Based Economy Not Sustainable

EghtesadOnline: An economy held captive to the price of oil and largely dependent on crude export revenues is apparently not a functioning economy, two members of the Majlis Energy Commission said on Sunday.
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Publish Date:19/June/2017 | 05:01

Oil Market Abandons Hope of Re-Balancing This Year

EghtesadOnline: The oil market has all but abandoned the hope of a re-balancing any time soon, with the re-emergence of a pricing structure that signals investors expect a glut to endure into next year.
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Publish Date:10/June/2017 | 06:45

Pound Erases Decline as Euro Slips Ahead of U.K. Vote, ECB Meet

EghtesadOnline: The pound erased a decline after a weekend terror attack in London as a poll showed the ruling Conservatives holding a double-digit lead ahead of elections this week, while commodity currencies gained as oil prices jumped.
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Publish Date:05/June/2017 | 11:57

Russia-OPEC Deal Extension Hastens Decline of Oil Heartlands

EghtesadOnline: Russia’s deal with OPEC has bolstered state coffers by putting a floor under crude prices, but it’s also had one unintended consequence: depressing output in the nation’s West Siberian oil heartlands.
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Publish Date:01/June/2017 | 10:34

Iran Confident of Oil Price Rebound

EghtesadOnline: The unexpectedly negative reaction of global markets to OPEC's decision on extending crude supply cuts into next year is temporary and prices will gain ground, says Iran's Oil Minister Bijan Namdar Zanganeh.
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Publish Date:29/May/2017 | 07:45

Oversold: Oil traders punish OPEC for promising too much

EghtesadOnline: As OPEC's latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt, a success.
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Publish Date:27/May/2017 | 04:41

Oil Prices Ease

EghtesadOnline: Oil prices hit their lowest in 11 days on Tuesday on news that US shale oil output in May is expected to post the biggest monthly increase in more than two years, fuelling concerns that US production growth is undermining efforts to cut oversupply.
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Publish Date:19/April/2017 | 10:57

Saudi Arabia Likely to Back Extending Oil Output Cuts

EghtesadOnline: Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices , according to a person familiar with the kingdom’s internal discussions.
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Publish Date:13/April/2017 | 09:26