United States Treasury yields increased following the release of the Federal Reserve’s July meeting minutes on Wednesday, which revealed that officials might consider further tightening measures beyond the point which saw their key interest rate reach highest level since 2001. During the two-day meeting, the Federal Reserve officials unanimously voted in favor of putting the …
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Saudi Arabia’s crude oil exports fell to their lowest level in 21 months in June according to the latest data from JODI. Saudi Arabia’s oil exports fell by 124,000 barrels per day from May, totaling just 6.80 million barrels per day. Saudi Arabia’s oil production is set to average around 9 million bpd in July, …
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Crude oil inventories in the United States saw a large draw this week of 6.195 million barrels, the American Petroleum Institute (API) data showed on Tuesday Reserves in Cushing, Oklahoma fell by 1 million barrels. Gasoline stockpiles rose by 700,000 barrels, inventories are roughly 7% less than the five-year average for this time of year. …
Crude prices for front-month deliveries slid on Tuesday after worse-than-expected industrial production print in China seemingly raised concerns about the commodity’s demand in in one of the world’s biggest oil importers. Markets are unsure if current government intervention is enough to rejuvenate the country’s economy. The middle of August usually sees the lowest level of …
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HOUSTON, Aug 14 (Reuters) – Oil and natural gas output from top U.S. shale-producing regions is set to fall in September for the second straight month to the lowest levels since May, Energy Information Administration data showed on Monday. Shale oil output is expected to fall to 9.41 million barrels per day (bpd) in September, …
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Five Americans who the U.S. says have been unjustly imprisoned in Iran for years may soon be freed under terms of a Biden administration deal worked out through Swiss intermediaries that would release several jailed Iranians and unfreeze Iranian oil revenues held by South Korea. The five, of which only three have been identified, are …
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Oil supply from the OPEC+ group dipped in July by 1.2 million barrels per day (bpd) to 50.7 million bpd, the lowest level in nearly two years as Saudi Arabia began its unilateral production cut of 1 million bpd, the International Energy Agency (IEA) said on Friday. The alliance’s oil production was down by more …
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Consumption reaches 103 million barrels a day for first time Saudi-led supply cuts pose a ‘risk of driving prices higher’ Global oil demand has surged to a record amid robust consumption in China and elsewhere, threatening to push prices higher, the International Energy Agency said. World fuel use averaged 103 million barrels a day for …
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Annual inflation in the United States came in at 3.2% in July compared to 3% in June, according to the latest report by the Bureau of Labor Statistics on Thursday. The figure was slightly lower than expected. On a monthly basis, the Consumer Price Index (CPI) rose by 0.2%. The main contributor to the monthly …
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An additional 2,000 troops will be sent to the Poland-Belarus border amid a recent influx of illegal immigrants, Polish Deputy Interior Minister Maciej Wasik told the Polish Press Agency (PAP) on Wednesday. The Polish border guard requested 1,000 troops earlier this week as reinforcements to the 2,000 soldiers already deployed at the border. Wasik said …
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