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The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil moves higher as storm threatens United States Gulf Coast

Oil prices rose on Monday as a tropical storm in the Gulf of Mexico prompted drillers to evacuate rigs and shut-in production.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices hold near multi-week lows on demand worries

Oil prices edged up on Thursday, but held near multi-week lows hit overnight after U.S. data showed gasoline demand fell and recovery from the COVID-19 pandemic was lagging.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices rise on falling US dollar

Oil prices recovered on Tuesday, erasing overnight losses, as investors moved into risk assets and away from the safe-haven U.S. dollar, which tumbled to multi-year lows.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices bolstered by bigger-than-expected drop in U.S. crude stocks

This bolsters hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic.

Oil steady as vaccine news counters rise in virus cases

Oil prices were little changed on Tuesday, trapped in the narrow trading band of the past three weeks as investors gauged hopes for a recovery in oil demand against fears of new lockdowns due to a growing number of coronavirus cases.
A pedestrian walks past a stock indicator board for the Tokyo Stock Exchange being displayed in a window of a securities company in Tokyo on October 1, 2018. - Japanese shares powered to a new 27-year high on October 1 after the US and Canada clinched a long-awaited trade deal, but other Asian equity markets struggled in subdued holiday trading. (Photo by Martin BUREAU / AFP)

Asian markets rise on fresh vaccine hopes, eyes on earnings

Asian markets rose Monday, recovering some of the losses at the end of last week, as investors followed a strong performance on Wall Street fuelled by hopes for a coronavirus vaccine, though a spike in infections around the world capped gains.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil edges lower as US inventory build stokes supply fears

Oil prices dipped on Wednesday after industry data showing a build in United States crude stockpiles added to worries about oversupply, but hopes for a swift economic recovery in China limited losses.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices fall amidst US coronavirus case surge

Oil prices fell on Tuesday, erasing earlier gains, on concerns that the surge in coronavirus cases in the United States, the world’s biggest oil user, will limit a recovery in fuel demand.
OPEC and its oil allies reached agreement Sunday to cut global production by 9.7 million barrels a day starting May 1, to shore up the world price in the face of a significant drop in the demand for oil because of the coronavirus pandemic.

Oil prices slump as wary traders eye upcoming OPEC+ meeting

Oil prices edged down on Monday as traders took profits, with the Organisation of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June.

Oil prices rise as US stock drawdown eases supply glut fears

Oil prices advanced on Thursday as a drawdown of the U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil falls as fears of second coronavirus wave take hold

Oil prices fell on Wednesday as potential OPEC+ plans to deepen supply cuts were overshadowed by demand concerns exacerbated by a possible second wave of coronavirus infections as countries ease lockdowns.

Oil prices drop amid supply glut, fears of second coronavirus wave

Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers.

Oil price rises to $25 as US inventories drop

Crude oil price is set to end the nightmare of producers as it rose for the second day thursday by 13.8 per cent to $25.65 per barrel.
Brent crude, the international benchmark, was off nearly six percent at $20.16 a barrel.

US oil slips below $15 per barrel

US oil prices fell heavily on Monday and slipped below $15 a barrel on renewed storage concerns as the coronavirus throttles demand, even as producers start slashing output to boost markets.
US President Donald Trump has fired a fresh salvo at the World Health Organization, accusing its chief of siding with China and “politicising” the coronavirus pandemic while repeating his threat to freeze the UN agency’s funding.

Donald Trump says US states will be cutting oil production

US President Donald Trump says Texas, Oklahoma, and North Dakota are going to cut their oil production, without giving specifics on numbers, amid a glut in energy supplies and shortages of storage that led to massive drops in prices on the market.

Oil prices: Expert tasks Nigeria on prudent spending

Prof. Wumi Iledare, former President Nigerian Association of Energy Economics (NAEE), has advised the Federal Government to spend prudently to avoid breakdown of the nation’s economy as global oil price continues to crash.
Asian markets are in negative territory Tuesday as the shockwaves from Monday’s historic drop in U.S. crude oil prices continues to reverberate.

Asian markets in negative territory

Asian markets are in negative territory Tuesday as the shockwaves from Monday’s historic drop in U.S. crude oil prices continues to reverberate.

US oil plunges to $10 per barrel, lowest in 21 years

The price of West Texas Intermediate (WTI), the benchmark for U.S. oil, dropped 39.09 per cent to $10.98 a barrel on Monday.

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