Posts Tagged ‘light crude oil’

Saudi Aramco Oil Price Hike Amid Robust Demand

Monday, June 6th, 2016

Saudi Arabia, the world’s largest crude exporter, raised pricing on most oil grades for sale to Asia and the U.S. in July after the nation’s energy minister said demand was robust.

State-owned Saudi Arabian Oil Co. increased its official selling price for Arab Light crude by 35 cents a barrel to 60 cents more than the regional benchmark for sales to Asia, it said in an e-mailed statement.

The company, known as Saudi Aramco, was expected to raise the premium for shipments of Arab Light crude by 40 cents a barrel to 65 cents a barrel more than the benchmark for buyers in Asia, according to the median estimate in a survey by Bloomberg of five refiners and traders in the region last week.

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Why positive market results in China, EU and US?

Monday, January 28th, 2013

Economical growth in China Shanghai, AsiaThis past week has seen mixed results in commodities trading, with many online traders keeping careful watch on the relatively positive market sentiment emerging from China, Europe and the United States.

Much of this data serves to temporarily paint a rather bullish picture for economic growth in the short and medium-term.

Highlights included China’s manufacturing index hitting a two year high, the European purchasing manager’s index reaching a ten month apex and United States’ jobless figures emerging significantly lower than expected for the second week in a row.

Naturally, these statistics have been directly reflected in commodities trading.
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Federal Reserve and ECB stimulation on Crude oil trading

Saturday, August 4th, 2012

Crude oil barrel and US DollarCrude oil prices fell earlier this week, but picked up slightly at the end as stimulation from the Federal Reserve and the European Central Bank (ECB) increased confidence in the market. Furthermore, a fall in the value of the US dollar made the oil cheaper for countries using other currencies, which also contributed to the rise in price.
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The price of oil down 18% in May

Monday, May 24th, 2010

Although summer usually tends to give lower oil and commodity prices, the month of May 2010 has been moving more than usual. Light crude oil have fallen 18% in May, and the question among oil traders now is if it will continue to sink or about to rebound?

Where are oil prices heading?

The commodity market this week begins fragmented and there is uncertainty as to which direction light crude oil will take the coming weeks.

Some oil analysts have a gloomy market outlook, believing increased pressure on demand for oil in the second half of 2010 will give even lower price for oil. Public debt is still a huge problem in Europe and Adam Sieminski, energy analyst at Deutsche Bank, believes that there is now talk of a W-shaped recovery.

More positive oil analysts believe that a temporary correction have taken place and now expect a recovery. They point out China’s demand for oil as an example, which have increased 12% this year.

Where do you think the price of oil are heading?