Kim Castillo

Oil Price increase

Oil Prices Rise in Kazakhstan, Causing Supply Concerns

Oil prices edged higher on Monday as supply disruptions in Kazakhstan and Libya offset concerns over a rapid rise in Omicron infections worldwide. Brent crude was up 24 cents, or 0.3%, at $81.99 a barrel by 0730 GMT, while U.S. West Texas Intermediate (WTI) crude gained 22 cents, or 0.3%, to $79.12. Oil prices rose 5% last …

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OPEC+ pump more oil-sources

OPEC+ Will Raise Its Output Target from February

OPEC+ have decided to increase their production target by 400,000 barrels per day starting next month. Given the pressure from the United States to increase supply and the absence of new major COVID-19 restrictions, economists were expecting this move. Led by the major OPEC+ country Saudi Arabia and non-OPEC+ leader Russia, the Energy Union is lifting a …

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Oil prices remain steady

Libya Tightens Oil Supplies, Causing Oil Prices to Go Up

As Libya tightened supplies before the OPEC+ meeting, Monday, oil prices rose in early Asian trading. Meanwhile, COVID-19 continues to spread, and concerns about declining fuel demand have also limited the growth of black liquid. As of 8:59 pm Eastern Time, Brent crude oil futures rose 0.40% to US$78.17, and WTI futures rose 0.55% to US$75.62. Less …

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gold

Gold Drops but Market’s Intraday Rebound Pushes Above $1,800

Gold futures closed lower on Wednesday, but the precious metals closed above the psychological price level. The last decline was even greater, dragging it below $1,800, which has been difficult to maintain above this price since November. The price of gold fell due to a weaker U.S. dollar and rising yields on longer-term Treasury bonds. …

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