Tag Archives: Crude oil

On Friday, Basra crude oil prices declined in their last trading session. Basra Heavy crude closed at $72.03, down 6 cents, while Basra Intermediate crude closed at $75.18, also down 6 cents. Despite the daily decrease, both crudes recorded weekly gains. Basra Heavy crude saw a weekly gain of $1.29 …

Basra crude prices on Wednesday, showed a mixed trend amid a drop in global oil prices. Basra Heavy crude experienced a slight increase of 1.04%, rising by 75 cents to $72.75. On the other hand, Basra Medium crude prices declined by 1%, falling by 75 cents to reach $75.90. In …

Iraq has raised the official selling price (OSP) for Basra intermediate crude to Asia by 0.11% $79.3 a barrel. The price tag of the heavy counterpart rose by 0.12% to $73.55. Oil slipped on Wednesday, giving up an earlier gain, as signs of ample supply and rising U.S. crude inventories …

Oil prices fluctuated in a narrow range on Thursday as the market weighed mixed U.S. economic signals and prospects for a Chinese demand recovery with a build in U.S. crude stockpiles and a stronger dollar. Brent crude futures rose 7 cents to $85.45 a barrel by 11:33 a.m. EST (1633 …

On Saturday, Chinese customs data showed that Iraq was the third supplier of crude oil to Chinese government refineries in December 2022. The data of the General Administration of Customs in China revealed that the largest suppliers to China in August were as follows: (from the largest) • Malaysia: 7.430 …

Oil prices rose on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China’s COVID lockdowns slowing global growth offset concerns about dwindling supplies from Russia. Brent crude futures were up $1.88, or 1.8%, at $109.33 a barrel at 1227 GMT, while …

Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1%, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) …

Oil prices drifted lower on Friday and were set to drop around 3% for the week as consuming countries’ planned release of 240 million barrels from emergency stocks offset some concerns over reduced supplies from Russia due to western sanctions. Brent crude futures edged lower by 55 cents, or 0.6% …

Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, as worries over tight supplies still clouded the market outlook. Brent crude futures climbed $1.42 or 1.4%, to $102.52 a barrel at 0651 GMT, …

Oil rose on Monday, supported by concerns over shut output in the United States because of damage from Hurricane Ida, with analysts expecting prices to remain rangebound in a stable market over the coming months. Brent crude was up 62 cents, or 0.9%, to $73.54 a barrel at 1332 GMT …

Oil prices eased on Thursday on China’s plan to release state oil reserves to reduce pressure on domestic refiners and a smaller than expected U.S. weekly crude draw. Traders said losses were limited by the slow return of U.S. output after Hurricane Ida and higher than expected U.S. gasoline demand. …

Oil prices edged higher on Thursday, supported by a sharp decline in U.S. crude stocks and a weaker dollar, though gains were capped by an OPEC+ decision to stick to its policy of gradually increasing output. Brent crude was up 45 cents, or 0.6%, at $72.04 a barrel by 1101 …

Oil prices rose on Friday, on track to post big gains for the week, on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast to hit on the weekend. Brent crude futures rose 72 cents, or 1%, to …

Oil fell on Thursday for the first session this week as renewed concerns about demand amid rising COVID-19 infections cut short a three-day rally, and as Mexico restored some oil production. Brent crude was down 71 cents, or 1%, at $71.54 a barrel by 0939 GMT, having risen 1.7% on …

Iraq collectively grossed more than 6.5 billion dollars from oil sales last July, according to a survey by the state oil marketer, SOMO. Crude oil exports amounted to 90,467,794 barrels, yielding 6,513,792,969 dollars, SOMO survey said. Exports from Oilfields in Mid and south Iraq were 87,455,359 barrels, while Kirkuk oilfields …

Oil prices were down for a seventh straight session on Friday near three-month lows and heading for a weekly loss of over 7% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. Broader investor risk aversion also weighed on oil …

Oil prices skidded on Thursday for a sixth session, hitting lows not seen since May, pressured by a stronger U.S. dollar and concerns about weaker demand as COVID-19 cases rise. The oil market rallied throughout the first half of 2021, but the newest wave of coronavirus infections throughout the world …

Oil prices rose more than 1% on Tuesday, recouping some of the losses in the previous session when prices hit a three-week low, but gains are likely to be limited on worries that rising COVID-19 cases and restrictions in China will dent fuel demand. Brent crude was up by 84 …

Oil prices rise with growing demand faster than  the supply. Brent crude oil futures of September delivery,climbed 28 cents, or 0.4 percent, to set the settlement price at $76.33 per barrel. While October Brent crude oil futures closed up 31 cents at $75.41 per barrel. The West Texas Intermediate Crude …

Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled. Brent crude for September fell 15 cents, or 0.2%, to $75.40 a barrel by 0411 GMT while U.S. West Texas Intermediate …