At the beginning of February, the OPEC+ Joint Ministerial Monitoring Committee recommended no change to the bloc’s output quota. Group members seem to be pursuing a wait-and-see approach with much global uncertainty surrounding the Chinese reopening, the war in Ukraine, and expectations of slowing...
https://www.hellenicshippingnews.com/are-oil-markets-finding-support-above-70/
Iran has set the official selling price (OSP) of its Iranian Light grade for its Asian buyers at $0.35 above the Oman/Dubai average for March, up 30 cents from the previous month, an industry source with direct knowledge of the matter said on Wednesday. Source: Reuters (Reporting by Florence Tan)
https://www.hellenicshippingnews.com/iran-raises-march-iranian-light-crude-price-to-asia-source/
Oil and gas prices are in another mini-slump, nearly three years after they were hit by the first wave of the COVID-19 pandemic in North America and Western Europe. But the latest downturn is part of a cycle in manufacturing activity and energy prices that has repeated with an average duration of...
https://www.hellenicshippingnews.com/oil-and-gas-mini-slump-all-part-of-a-cycle/
Energy – EU carbon breaks EUR100/t Oil prices came under further pressure yesterday, as part of a broader risk-off move. Markets continue to come to terms with expectations of a more hawkish Fed, following a raft of economic data suggesting the Fed still has quite a bit of work to do. These...
https://www.hellenicshippingnews.com/the-commodities-feed-carbon-strength/
The COVID-19 pandemic has had a significant impact on the oil and gas industry, leading to a decline in demand and a drop in oil prices. However, the industry has been recovering since then, with oil prices gradually increasing and demand for energy returning to pre-pandemic levels. Consequently,...
As the investment landscape continues to shift, active fixed income offers investors many ways to seize attractive opportunities in 2023 – while mitigating risks. In the following Q&A, PIMCO Group CIO, Dan Ivascyn, discusses. Q: Markets expect the Federal Reserve may soon pause its rate hikes and...
https://www.hellenicshippingnews.com/pimco-group-cio-dan-ivascyn-view-from-the-investment-committee/
After declining consistently since the start of the month, crude oil prices witnessed a sharp recovery to reach over $85 per barrel, according to a new report. “This was on the back of an announcement from Russia to cut crude oil production by 0.5 million barrels per day in retaliation to the...
https://www.hellenicshippingnews.com/crude-oil-prices-to-remain-volatile-on-russian-cuts/
The profit for making diesel in Asia has dropped to the lowest in almost a year, a sign that the market is adapting so far to the European ban on imports of the transport fuel from Russia. The profit margin, or crack, on producing a barrel of gasoil, the building block for diesel, at a …
Brent oil fell on Tuesday, reversing the previous day’s gain, as fears that a global economic slowdown, and drop in fuel demand, amid aggressive interest rate hikes by the U.S. central bank prompted investors to take profits. Brent crude LCOc1 was down 96 cents, or 1.1%, at $83.11 a barrel as of...
https://www.hellenicshippingnews.com/brent-oil-falls-on-fears-over-global-economic-slowdown/
China’s reopening will drive a consumption recovery in refined oil products in 2023 as consumer travel picks up and sentiment improves, Fitch Ratings says. The rebound is likely to be kept within mid-single-digit growth, constrained mainly by energy transition and uncertainties in industrial demand...