Brent futures slightly dipped in early morning Asian trading because of the Chinese New Year holiday. However, reports showing better-than-expected growth in Chinese demand limited declines. The crude price per barrel of Brent recently reached close to $119, its highest in nine months, following news that China’s January oil imports increased to their third highest recorded daily rate. The higher than anticipated...Read More!
There will be an increase in Bahrain’s efforts to preserve its strategic reserves of oil and gas and to improve its facilities. Prince Khalifa bin Salman al Khalifa, Bahrain’s Prime Minister, encouraged useful initiatives for the preservation of oil and gas stockpiles, according to reports. At a recent conference, the prime minister gave instructions as to how he plans to improve the country’s oil...Read More!
The current oil prices reflect a rise beyond $86 per barrel as investors wait for the results of the presidential election in the United States. In early afternoon trading, European time, the crude oil price per barrel of the U.S. benchmark for delivery in December was 47 cents higher to $86.12 in NYMEX electronic trading. It moved 79 cents higher to settle at its current oil price of $85.65 per barrel. On London’s ICE...Read More!
A significant gasoline price drop in several primary “battleground” states occurred, only three weeks prior to the US presidential election. Voters in Ohio have witnessed an average drop of about 20 cents in the previous week. Simultaneously, retail gas prices have fallen by over 10 cents in Illinois and Wisconsin. In California, where the statewide average at the pump reached a record high last October 9,...Read More!