Brent | Egypt Oil & Gas
Sonatrach Retains November Saharan Blend OSP
Algeria’s Sonatrach has kept the official selling price of its Saharan blend crude for November loadings the same as it was a month eariler, Zaywa reported. The company stated on October 22 that its Saharan blend crud...
Traders Eye $100 WTI Ahead of Iran Sanctions
The number of oil traders betting on $100-per-barrel WTI by 2019 has surged in the past week, Reuters reported. Open positions on $100 December 2019 WTI call options have increased 30% in the past seven days to reach ...
Crude Rises to Levels Unseen Since 2015
Following a pipeline explosion in Libya, oil prices rose to highs not seen since mid-2015, Reuters reports. Brent crude prices hit $67.10 per barrel while WTI crude hit $60.01 on Tuesday, the news agency reports. They...
El Molla: Egypt’s Fuel Subsidy to Exceed EGP 110b
Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, said that the fuel subsidy increased well above EGP 110b, from an estimated EGP 35b in the budget, because of the flotation of Egyptian bound ...
Egypt Postpones Bid Round Due to Oil Prices
The Egyptian General Petroleum Corporation (EGPC) decided to postpone planned bid round until prices of Brent oil stabilize in international markets. The bid round was intended to be launched early 2016, offering 10 c...
Vitol to Export First US Oil Cargo, US WTI Hits Premium over Brent
Switzerland-based Vitol has been announced to load the first US export cargo after 40 years from the Enterprise Products Partners’ Houston terminal in the first week of 2016, Platts reported citing an Enterprise...
Oil Price Slides on Weak China Data, Record Russian Output
Oil prices dropped again on Monday in response to weak economic data from China and record-high production figures from Russia, reported Reuters. The global benchmark Brent crude futures traded down 85 cents at $48.71...
Investment Banking Giant Goldman Sach’s Says Oil Could Drop to $20
The investment bank Goldman Sach’s recently released a report saying that oil prices could drop to $20/barrel, at least in the short term, USAToday reported. “Although oil prices have revisited the lows of last ...
