Middle East

OPEC+ unlikely to tweak oil policy in Monday talks – delegates

Reuters | March 30, 2023

By Alex Lawler, Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW (Reuters) – OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after oil prices recovered following a drop to 15-month lows. Oil has recovered towards $80 a barrel for […]

Oil up 2% as dollar weakens on small US Fed rate hike

Reuters | March 22, 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 2% to a one-week high on Wednesday as the dollar slid to a six-week low after the U.S. Federal Reserve delivered an expected small rate hike while hinting that it was on the verge of pausing future increases. Brent crude futures rose $1.37, or 1.8%, […]

Oil prices rebound after hitting lowest since 2021 on banking fears

Reuters | March 20, 2023

By Stephanie Kelly NEW YORK (Reuters) -Oil prices rebounded and rose over 1% on Monday after diving to their lowest levels in 15 months as the market worried that risks in the global banking sector could spark a recession that would sap fuel demand. In volatile trade, Brent crude futures for May rose 82 cents, […]

Exclusive-Russians flood Kazakhstan with sanction-busting requests – sources

Reuters | March 17, 2023

By Olzhas Auyezov and Mariya Gordeyeva ALMATY (Reuters) – Russian companies have flooded their Kazakh partners in recent weeks with new requests to help them circumvent Western sanctions and import badly needed goods, seven sources with direct knowledge of the matter told Reuters. After Russian forces invaded Ukraine on Feb. 24 last year, the West […]

Oil prices fall 2% in choppy trade as banking fears rattle markets

Reuters | March 13, 2023

By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell over 2% in volatile trading on Monday as the collapse of Silicon Valley Bank roiled equities markets and raised fears of a fresh financial crisis, but a recovery in Chinese demand provided support. Brent crude futures settled down $2.01, or 2.4%, to $80.77. The global benchmark […]

Fund managers rush into emerging stocks and cut cash – BofA survey

Reuters | February 14, 2023

LONDON (Reuters) -Investors turned more optimistic about the global economy in February, flocking to emerging market stocks and cutting their cash holdings to levels last seen since before the war in Ukraine, a BofA survey of global investors showed on Tuesday. The survey of 299 fund managers, with a combined $847 billion in assets under […]

Oil falls $2/barrel on economic jitters, U.S. crude stock build

Reuters | January 24, 2023

By Arathy Somasekhar HOUSTON (Reuters) – Crude oil prices slipped on Tuesday on concerns about a global economic slowdown and as preliminary data indicated a bigger than expected build in U.S. oil inventories. Brent futures for March delivery fell $2.06, or 2.3%, to $86.13 a barrel. U.S. crude fell $1.49, or 1.8%, to $80.13 per […]

Trump metal tariffs ruled in breach of global rules by WTO

Reuters | December 9, 2022

By Emma Farge and Philip Blenkinsop GENEVA (Reuters) -The World Trade Organization ruled on Friday that U.S. tariffs imposed on steel and aluminium imports by then President Donald Trump contravened global trading rules in a judgment immediately criticized by Washington. In one of the most high-profile and potentially explosive cases to come to the WTO, […]

Oil prices slump to pre-Ukraine crisis levels on economic jitters

Reuters | December 6, 2022

By Shariq Khan NEW YORK (Reuters) -U.S. oil prices fell in frenzied trading on Tuesday to their lowest settlement levels this year, with Brent finishing below $80 per barrel for the second time in 2022, as investors fled the volatile market in an uncertain economy. Brent crude futures fell $3.33, or 4%, to settle at […]

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