Brent crude | Egypt Oil & Gas - Part 2
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, according to Reuters. Crude prices have not breached the $80 mark since November 2014. Brent cru...
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 the Islamic Republic, Re...
No Extension Needed on OPEC Cuts if Prices Continue to Rise: Iran
An extension to the oil production cuts will not be necessary if crude prices continue to rise, Iranian Oil Minister Bijan Zanganeh has said, Reuters reported. “There will be no decision on this in OPEC’s ... India, US Reduce Nigerian Crude Imports
Both India and the United States have reduced their Nigerian crude oil imports by 43% and 53% respectively, a call that translated to a minimum loss of $270m of earnings in the Nigerian economy, reported Punch Newspap...
Riyadh Sets Conditions for Oil Output Freeze Deal
Saudi Arabia’s Deputy Crown Prince, Mohammed bin Salman, said that Riyadh will only freeze its oil output if Iran and other major producers do so, while challenging the country’s main regional rival to take an a...
Crude Oil Prices Decline over China’s Economic Slowdown
Global crude oil prices continue dropping to record low, with Brent down at $32.62 per barrel and US West Texas Intermediate (WTI) as low as $32.36, amid China’s emerging economic slowdown and continuous overpro...
Norway’s Krone Dropped over Oil, Industrial Production Slump
Norway’s currency, krone has dropped by 1.2 % against the Euro over industrial production slump, and a drop in the Brent crude price, according to Bloomberg. This marks the krone’s decline to 6 % over the past 12 mont...
Brent Price Falls on Expectations of Higher Supplies from OPEC, US
Brent crude oil fell below $54 a barrel on Friday and was on track for its third straight weekly loss, hurt by worries of rising supplies from Opec and the United States. Intensive efforts to clinch a deal between wor...
