Black market exchange rates for fuel to be used in Lebanon
Lebanon central bank stops fuel subsidies, prices set to rise
oil prices
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Germany’s Finance Minister calls for Russia oil-price cap
Germany’s Finance Minister Christian Lindner said he’ll be “inviting all members of the EU to support the idea of an oil price cap.” Speaking before an informal meeting of European Union finance chiefs in …
Oil prices climb on tight supply worries
Oil prices rose by as much as $1 per barrel on Thursday after dropping below key technical support levels in the previous session, as an energy standoff between Europe and Russia focused investor minds on how tight fuel supply may become. …
Saudi Arabia lowering oil prices for Asia - report
Saudi Arabia cut oil prices for customers in Asia as coronavirus lockdowns and sagging economies cool energy demand in the two regions. State-controlled Saudi Aramco lowered its key Arab Light grade for October’s …
G7 agrees to Russian oil price cap
The Group of Seven (G7) finance ministers plan to implement a price cap on Russian-origin crude oil and petroleum products, they confirmed in a joint statement on Friday. The initial price cap will be based on range of technical inputs …
Oil gains ahead of OPEC+ meeting
Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though fears of China's COVID-19 curbs and weak global growth continued to limit gains and a potential cap on the price of Russian exports …
Novak: Russia produces as much oil as possible, situation is improving
Russia will suspend supplies of oil and petroleum products to states, which will decide to restrict the price of oil from the country, Deputy Prime Minister Alexander Novak told reporters on Thursday. "As far as price restrictions …
G7 finance ministers to approve oil prices ceiling plan on Sept 2 - report
Finance ministers of the Group of Seven (G7) will approve the plan stipulating the Russian oil price cap at their meeting on Friday, The Wall Street Journal newspaper reported, citing sources. The plan also stipulates setting the price …
Inflation-scarred consumers fuel Turkish economy by spending
Turkey’s economy lurched forward at a faster rate than expected, as the highest inflation in 24 years prompted consumers to bring forward purchases in anticipation of steeper prices ahead. Gross domestic product rose an annual 7.6% in …
Oil prices climb 1% as U.S. fuel inventories fall
Oil prices recovered slightly on Wednesday as data pointed to firm U.S. fuel demand, providing respite after a 5% drop a day earlier on fears that demand will suffer from increased China COVID curbs and central bank interest rate hikes. …
Oil edges down as inflation expected to impact fuel demand
Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand. Brent crude …
Oil rises on prospect of OPEC supply cut, demand growth
Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural gas prices in Europe, helped offset a dire outlook for U.S. growth. …
OPEC president backs potential oil output cuts
The idea that OPEC+ could consider production cuts in the near future would be in line with OPEC’s view, the rotating president of OPEC, Congo’s Hydrocarbons Minister Bruno Jean-Richard Itoua, told The Wall Street …
Oil prices rise on potential OPEC+ supply cuts
Oil prices rose on Thursday on mounting supply tightness concerns, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery. Brent crude rose 45 cents, or 0.4%, to $101.67 a barrel by 0630 GMT, while …
US-Saudi Arabia: tensions run high
Saudi energy minister’s comments, backed by some OPEC members, are a letdown for White House
Brent oil surpasses $101 per barrel first time since August 3
The price of futures contract for Brent crude oil with October delivery exceeded $101 per barrel on London’s ICE for the first time since August 3. As of 11:12 Moscow time, the price of Brent reached $101.18 per barrel (+0.96%). …
Brent crude oil back above $100
Oil prices were little changed on Wednesday as the market grappled with supply concerns amid the sanctioning of Russian shipments and the initial shock of comments that major producers would cut output wore off. Brent crude futures for …
Oil climbs as Saudi Arabia warns of OPEC output cuts
Oil rose on Tuesday as renewed concerns over tight supply dominated market sentiment after Saudi Arabia warned that the major oil producer could cut output to correct a recent oil price decline. Brent crude gained 42 cents, or 0.4%, to …
Saudi Arabia’s non-oil booming
This is Saudi Arabia, the world’s biggest exporter of oil, so it’s no surprise the property market is red-hot as income from a spike in energy prices flows through the economy. According to Bloomberg citing Almajdiah’s chief …
Goldman Sachs: Iran will not start pumping more oil
An Iran nuclear deal that would lead to the country pumping more oil is unlikely to materialize any time soon
