crude oil

Iran Parliament Clears Oil, Foreign Ministers for Rouhani’s New Cabinet

By Babak Dehghanpisheh BEIRUT, Aug 20 – The Iranian parliament voted on Sunday to keep the oil and foreign ministers, two of pragmatist President Hassan Rouhani’s key members of cabinet, in their posts. Oil Minister Bijan Zanganeh has been credited with the boost in Iran’s crude output since many global sanctions were lifted last year

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Business Outlook: ‘Make or Break’ for OPEC

 By Ole Hansen Hedge funds and oil traders in general have had a difficult quarter, particularly given the Opec/non-Opec production cut deal’s failure to boost prices. The outlook for gold, however, is more bullish given geopolitical uncertainties and policy risks. “We maintain a bullish outlook for gold in the belief that the risk to the

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Oil Slips on Worries Mideast Rift Could Undermine OPEC Cuts

By Christopher Johnson LONDON, June 6 – Oil prices fell further below $50 a barrel on Tuesday on concerns that a diplomatic rift between Qatar and several Arab states including Saudi Arabia could undermine efforts by OPEC to tighten the market. Benchmark Brent crude oil was 15 cents a barrel lower at $49.32 by 0755

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Oil Prices Tumble as Trump Pulls Ahead in Close U.S. Election

By Henning Gloystein SINGAPORE, Nov 9 – Oil prices tumbled on Wednesday as vote counting showed Republican Donald Trump edging ahead in an unexpectedly tight U.S. presidential election, setting world markets on edge. Crude futures markets roared into action as Trump surprised by defeating Democrat Hillary Clinton in a series of key contests and opening

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Oil Producers Defer the Inevitable

OPEC’s approach is similar to the Fed’s rate hike strategy By Noureldeen Al Hammoury  Throughout 2015, global markets swung back and forth as analysts waited for the U.S. Federal Reserve to implement a rate hike. The much awaited decision in spring was rolled over and then moved again till December when the hike was finally

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Saudi-Iran Tensions Scupper Deal to Freeze Oil Output

By Rania El Gamal and Reem Shamseddine DOHA, April 18 – A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices. The development will revive oil industry fears

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Iran Plays Hardball with European Oil Buyers, Slowing Exports

By Dmitry Zhdannikov and Alex Lawler LONDON, March 9  – Iran has managed to sell only modest volumes of oil to Europe since the lifting of sanctions seven weeks ago and several former buyers are staying away, citing legal complications and Tehran’s reluctance to sweeten terms to win back customers. Tehran had been unable to

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Oil’s Squeeze Spreads From Gulf States To Banks

By David French and Tom Finn DUBAI/DOHA, March 6 – Low oil prices are forcing Gulf states to borrow to prop up their economies and are now taking their toll on the region’s banks too, complicating their efforts to raise capital required by regulators. The impact of crude’s fall from more than $100 to below

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U.S. Data Ruins New Year Eve’s Rally

January may not be positive if U.S. data further slips BY NOURELDEEN AL HAMMOURY Despite a positive rally for Crude Oil in the final hours of the last trading session in 2015, where WTI Crude closed higher with a 1.20 percent gain and Brent added a little over 2.25 percent in gains, U.S. and global

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