Oil was steadyon Monday after Chinese economic data underscoring a bumpy recovery for the world’s biggest crude importer offset hopes for a boost to demand from the summer driving season in the northern hemisphere. Apart from retail sales that beat…
QatarEnergy has cut the August term price for al-Shaheen crude to a premium of $1.21 a barrel above Dubai quotes, trade sources said, down from a premium of $1.82 a barrel in July. The term price was set after QatarEnergy…
Shares steadied on Monday while the euro remained on the defensive amid political turmoil in Europe, as investors look for direction from a string of central bank meetings in the region this week as well as fresh U.S. economic data.…
Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared. The S&P 500 Consumer Discretionary Distribution & Retail index is…
USD: US calendar may take a back seatFX markets open up in a steady fashion after Friday’s volatility. That session can largely be characterised as investors shifting to more defensive positioning ahead of the French election risk later this month.…
The dollar held firm on Monday, while the euro traded around more than one-month lows, as political turmoil in Europe ramped up the level of uncertainty among traders, while investors awaited more data to gauge the strength of the U.S.…
Iraq’s oil ministry said it is fully committed to compensating for any crude oil overproduction in 2024, referencing estimates by secondary sources of overproduction by 203,000 barrels in May above levels agreed with OPEC+. The ministry “is committed to the…
Kazakhstan plans to submit its revised plan to compensate for producing above its OPEC+ crude quota in 2024 in the coming days, the energy ministry said in a statement posted on Instagram June 12. Sluggish oil prices continue to put…
Saudi Arabia began preparing more than a year ago to sell a new chunk of state oil giant Aramco 2222.SE, targeting foreign investment that has lagged goals for years and is needed for an ambitious economic transformation. The preparations led…
The world is facing a major oil capacity glut in the current decade that could trigger lower prices and test OPEC’s market control as global oil demand peaks, the International Energy Agency said June 12. Global oil demand, including biofuels,…