Brent crude

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.

OPEC, non-OPEC Ministerial Meeting Cancelled

OPEC and non-OPEC ministerial meeting to discuss oil output has been canceled affecting Brent crude benchmark.

Egypt Doubles Oil Hedges in FY 2020/21

Egypt has 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.

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 per year from Qatargas.

WTI Crude Prices Fall by 300%, Plunges Below $0 

US oil trading collapsed on April 20 as the price on the May future contract for West Texas Intermediate (WTI) - that is due to expire on April 21 - fell by over 300%, recording an unprecedented $-37.63 per barrel ...

OPEC+ Decisions Could Curb Oil Supply by 20%

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced yesterday to cut oil production by 10 million barrels per day (mmbbl/d) effectively from May 1 through June 30, curbing global ...

Egypt Sets Oil Price at $68 in 2020 Budget

The budget for fiscal year (FY) 2019/20 estimates oil prices at $68 per barrel, down from $70 of in FY 2018/19.

Oil Falls 2% Ahead of OPEC Meeting

Oil prices fell on June 21 as producers prepared to discuss the lifting of production cuts at the biannual OPEC meeting on June 22 in Vienna.

Oil Reaches $80 for First Time since November 2014

Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran.

Oil Spikes as Trump Exits Iran Deal

Oil prices rose more than 2% on May 9, after President Donald Trump announced the US withdrawal from the Iran nuclear deal and a reimposition of the "highest level" of sanctions on Tehran.

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