The negotiators from Iran and the rest of the
signatories to the JCPOA, 2015 nuclear deal, are back in Vienna, the Austrian
capital, to resume the negotiations, which was halted a week ago in light of
Christmas holidays. The Iranian team projected a sense of optimism this
time while Iranian foreign…
Monday, 27 December 2021
Saturday, 25 December 2021
Wednesday, 22 December 2021
Falling US crude inventories keep oil price steady despite Omicron outbreaks
The US crude oil inventories have been falling
steadily since the end of November, clearly indicating a strong correlation
with the falling prices of the commodity in the international markets. The API, American Petroleum Institute, released its
data on Tuesday that showed a fall of 3.67 million bar…
Monday, 20 December 2021
Omicron surge in Europe takes its toll on crude oil price
The price of crude oil started falling on Monday,
clearly indicating the impact on the demand by the surging Omicron across
Europe. It is a body blow for a range of industries that had
been waiting to breathe a sigh of relief during the Christmas period, having immensley suffered almost for two yea…
Wednesday, 15 December 2021
OPEC+ sees over 17.6% global growth in the next 25 years
Global Oil prices have tumbled, yet the OPEC+ sees
the light at the end of the tunnel, after revising its previous gloomy forecast
for the first quarter, 2022; the cartel sees an increase in demand for the
period, despite the risk of global spread of the Omicron variant of the Coronavirus. Its lates…
Monday, 13 December 2021
Oil Price: the failure to reviving the JCPOA and its direct impact on crude oil markets
The price of crude oil fell again on Monday in the
markets, perhaps over the fears of yet another potential conflict in the Middle
East, involving Iran, the West, the Sunni Arabian powers in the region and of
course, Israel. Although the signatories to the JCPOA, 2015 Iranian
nuclear deal, are meeti…
Friday, 10 December 2021
Oil price between $70 - $80: it’s win-win situation for both consumers and producers
The price of crude oil remains static at present,
having been through some understandable fluctuations in light of the Omicron
outbreak across the world. As of 09:00 GMT on Friday, the price of WTI and
Brent stood at $71.33 and $74.66 respectively. The modest draw of the US crude inventories this wee…
Wednesday, 8 December 2021
Oil Price: what goes down, comes up - slowly
The price of crude oil is slowly rising in the
markets despite the recent volatility stemmed from the concerns over the
Omicron variant of the Coronavirus. As of 14:30 GMT on Wednesday, the prices of WTI and
Brent were at $ 71.91 and $ 75.39 respectively. The price of crude oil did not follow the p…
Monday, 6 December 2021
Saudi Arabia increases the price of crude oil to Asia and US
Saudi Arabia, the worlds’ largest exporter, has
raised the price of crude oil for the US and Asia with effect from December. As for Asia, the Arab light crude has gone up by 60
cents. The rise in price will affect the key customers of the Kingdom in the region
that account for 60% of its exports; th…
Friday, 3 December 2021
China's manufacturing PMI rises after nine months: encouraging news for the crude oil markets
China’s Manufacturing Purchasing Managers Index, PMI, has
risen by 0.9 in November, buckling the downward trend of the past 9 months,
according to the latest data released by the National Bureau of Statistics of
China. The encouraging news from the world’s second largest
economy will be a significan…
Thursday, 2 December 2021
Oil Price: OPEC+ strikes the right note and keeps the supply unchanged
The OPEC+ collectively decided not to act on impulse
in the unprecedented circumstances, triggered off by the outbreak of the
Omicron variant of the Coronavirus. No sooner was it announced than it was well received
by the beleaguered consumers across the world, especially when the risk of yet
anoth…
Monday, 29 November 2021
Oil price makes swift recovery defying the doom and gloom
The price of crude oil recovered on Monday defying
the worst-case scenarios as the world still needs oil to function in a normal
way. As of 15:00 GMT, the prices of WTI and Brent were $71.88 and $75.77 respectively.
Most analysts hoped that the prices would recover
gradually; many, however, did not…
Sunday, 28 November 2021
Responsibility of the OPEC+ after the oil price crash: will there be a more pragmatic apporach next week?
. With the discovery of the new variant of Covid-19
virus, Omicron, the prevailing optimism in the energy sector has started
evaporating, almost mimicking dew on a leaf on a calm summer morning. It was a bolt from the blue, indeed; it, once again,
demonstrated how vulnerable we are despite the advent…
Saturday, 27 November 2021
Plummeting oil price leaves the OPEC+ in a slippery lurch
The price of crude oil fell precipitously on Friday
when analysts were gauging the combined impact of the joint release of
petroleum reserves and the discovery of new Covid-19 variant in Southern
Africa. As of 18:00 GMT on Friday, the prices of WTI and
Brent were $68.15 and $72.72 respectively. When…
Wednesday, 24 November 2021
Gauging the oil price trend when two factors competing for dominance
The price of crude oil slightly dipped on Wednesday,
in line not necessarily with the cumulative release of the SPRs, Strategic
Petroleum Reserves, by the top global consumers. The drop coincides also with the latest data
released by the API, American Petroleum Institute, which showed yet another US…
Tuesday, 23 November 2021
Oil price: will the joint release of SPRs produce the desired outcome?
Crude oil investors are bracing themselves for the ‘big
news’ in the form of a public announcement by the world’s most powerful man in
the evening, with regard to the steps taken by his administration to cut down
on rising energy prices. Everyone expects that President Biden will address
the issue w…
Monday, 22 November 2021
Oil Price: relasing SPRs amidst waves of Covid-19 surges in Europe
The price of crude oil that has been falling during
the past three weeks recovered slightly on Monday when the markets opened for
the business for the new week. As of 11:45 GMT, the WTI and Brent were back in the
green, both standing at $76.08 and $79.00 respectively, recording modest gains.
The pri…
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On a determined mission to turn their back on Russian oil and gas, the European countries are simply staring into an abyss of uncertainty in...
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The negotiators from Iran and the rest of the signatories to the JCPOA, 2015 nuclear deal, are back in Vienna, the Austrian capital, to r...
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