Brent crude | Egypt Oil & Gas
Oil Prices Surpass $100 amid Supply Concerns
International oil prices climbed above $100 per barrel on September 9 for the first time since July as escalating military confrontations involving Iran, the US, and Houthi forces intensified concerns over global oil ... US–Iran Ceasefire Collapse Could Keep Brent Around $100 through 2026
The collapse of the U.S.-Iran ceasefire could keep Brent crude near $100 per barrel through 2026, according to updated forecasts from Rapidan Energy Group, a Washington-based energy and geopolitical consultancy. Rapid...
Oil Prices Drop as Shanghai Goes into Lockdown
Global oil prices decreased as China implemented a lockdown in Shanghai, which is considered a major manufacturing and financial hub, BBC reported. Brent crude prices fell by over $4.50 per barrel as the lockdown inst...
OPEC, non-OPEC Ministerial Meeting Cancelled
The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting (ONOMM) that was scheduled for July 5 has been canceled, OPEC Secretary-General Mohamed Sanusi Barkindo announced. The 18t...
Egypt Doubles Oil Hedges in FY 2020/21
Egypt has almost doubled its oil hedges during the fiscal year (FY) 2020/21 as a precautionary measure against the possible increase of oil prices, Finance Minister Mohamed Maait told Bloomberg in an interview. Maait ...
Sinopec Awards Qatargas 10-year LNG Tender
China’s state-run oil and gas company, Sinopec Corporation, has awarded a 10-year tender to buy 1 million tonnes of liquefied natural gas (LNG) per year from Qatargas, according to Reuters. The deal shows Sinopec try...
WTI Crude Prices Fall by 300%, Plunges Below $0
US oil trading collapsed on April 20 as the price of May’s future contract for West Texas Intermediate (WTI) – that is due to expire on April 21 – fell by over 300%, recording an unprecedented $-37.6...
OPEC+ Decisions Could Curb Oil Supply by 20%
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced on April 12 a record oil deal that will cut oil production by 10 million barrels per day (mmbbl/d) effectively from May 1 through...
