Commodities

Photo Credit: Arabianeye-Reuters
25 May 02:48 PM Kuwait crude oil up 69 cents Wednesday – KPC
Kuwait – Mubasher: The price of Kuwait’s crude oil rose by 69 cents to settle at $50.97 per barrel (pb) on Wednesday, compared to $50.28 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global …
Photo Credit: Arabianeye-Reuters
24 May 06:43 PM Kuwaiti oil exports to China up 38% in April
Mubasher: Kuwait's crude oil exports to China surged 37.5% in April 2017 to 1.63 million tons, equivalent to around 397,000 barrels per day (bpd), government data showed, according to Kuwait News Agency (KUNA). Kuwaiti shipments of crude oil to …
Photo Credit: Arabianeye-Reuters
24 May 04:48 PM UAE supports extending the OPEC agreement - Minister
Abu Dhabi - Mubasher: The United Arab Emirates minister of energy, Suhail bin Mohammed Al Mazroui, said on Wednesday that his country supports extending the oil output cut agreement. The UAE is ready to endorse a six or a nine-month extension …
Photo Credit: Arabianeye-Reuters
24 May 03:52 PM Oman oil prices rise 89 cents
Mubasher: The price of Oman oil futures for July delivery went up by 89 cents per barrel today, according to the data of the Dubai Mercantile Exchange (DME). Data showed that Omani crude oil registered $53.24 per barrel (pb) on Wednesday, compared …
Photo Credit: Arabianeye-Reuters
23 May 02:34 PM Oman oil price down $0.53
Mubasher: The price of Oman oil futures for July delivery decreased by 53 cents on Tuesday, according to data of the Dubai Mercantile Exchange (DME). Data showed that Omani crude oil registered $52.35 per barrel (pb) on Tuesday, compared to $52.88 …
Photo Credit: Arabianeye-Reuters
22 May 10:05 PM Oil prices up to highest level in 4 weeks
Mubasher: Oil prices ended Monday’s trading in a rise as the meeting of the Organization of the Petroleum Exporting Countries (OPEC) approaches, after the Iraq approved the proposal to extent the output deal. The price for West Texas Intermediate …
Photo Credit: Arabianeye-Reuters
22 May 09:20 PM How $10 drop in oil prices would affect Saudi economy?
Riyadh - Mubasher: The Saudi economy is highly vulnerable to prolonged lower global oil prices, the Institute of International Finance (IIF) said in a recent report. “With still glut in the oil market and the potential of recovery in oil …
Photo Credit: Press Release
20 May 02:57 PM Egyptian new refinery to begin production in 2018
Cairo - Mubasher: The Egyptian minister of petroleum and mineral resources said that the Egyptian Refining Company’s (ERC) project is expected to be begin operating by the end of 2017. The minister added on the sidelines of his visit to the Cairo …
Photo Credit: Arabianeye-Reuters
20 May 11:55 AM Kuwait oil up $1.03
Kuwait - Mubasher: The price of Kuwaiti oil increased by $1.03 on Friday, according to the Kuwait Petroleum Corporation (KPC). Kuwaiti oil registered $49.93 per barrel (pb) on Friday, compared to $48.90 pb on Thursday, Kuwait News Agency (KUNA) …
Saudi Aramco CEO, Amin Nasser - (Photo Archive)
20 May 10:08 AM Aramco to sign $50bn deals with US firms - CEO
Riyadh - Mubasher: The CEO of Saudi Aramco Amin Nasser said on Saturday that his company is expecting to sign $50 billion worth of deals with American companies to diversify the kingdom’s energy resources, according to Reuters. Amin Nasser added …
Photo Credit: Arabianeye-Reuters
17 May 08:23 PM American crude, gasoline stocks decline in week
Mubasher: US oil stocks decreased last week by lower than the expected rate. The data of the US Energy Information Administration (EIA) showed on Wednesday that crude oil inventories went down by 1.8 million barrels to 520 million barrels in the …
(Photo Credit: Arabianeye-Reuters)
17 May 06:21 PM Oman oil production drops to 29m barrels in April
Mubasher: Oman’s production of oil and condensates declined 3.22% reaching 29.02 million barrels in April, according to data released by Oman's Ministry of Oil and Gas. The total volume of exported crude oil retreated 11.04% to reach 22.75 million …
Photo Credit: Arabianeye-Reuters
17 May 06:12 PM Oil prices up on lower US inventories
Mubasher: Oil prices saw another rise after data showed a decline in US crude stocks. By 4:05 GMT, the price for West Texas Intermediate (WTI) or (Nymex) futures went up by 1.3% to $49.3 per barrel (pb), while Brent Crude futures increased by 1.5% …
Photo Credit: Arabianeye-Reuters
13 May 02:25 PM Kuwait oil prices down $0.11
Mubasher: The price of Kuwaiti oil went down by 11 cents to $47.31 per barrel (pb) on Friday compared to $47.42 pb the day before, the Kuwait Petroleum Corporation (KPC) said on Saturday. According to Kuwait News Agency (KUNA), oil prices slightly …
Photo Credit: Arabianeye-Reuters
13 May 12:16 PM Oil prices rise amid hopes of extending the OPEC deal
Mubasher: Oil prices have increased during the week ended Friday by 3.5%, as hopes for extending the output agreement are getting higher. The price for West Texas Intermediate (WTI) or (Nymex) futures went up by 3.5% to $47.84 per barrel (pb) …
(Photo archive)
10 May 05:50 PM Hard to guess time range of oil cut extension – UAE minister
By: Amr Adel Dubai – Mubasher: The UAE Minister of Energy, Suhail Al Mazroui, said that it is hard to guess the time expected for the extension of the oil cut agreement in the next OPEC meeting next month.  OPEC and non-OPEC members are scheduled …
Photo Credit: Arabianeye-Reuters
6 May 03:21 PM Iraq oil exports down to 97.6m barrels in April
Mubasher: Initial statistics from the Iraq's Oil Marketing Company (SOMO) showed Iraqi crude oil exports declined to 97.57 million barrels last month compared to around 101 million barrels in March. Exports totalled $4.61 billion last month, …
Photo Credit: Arabianeye-Reuters
6 May 11:41 AM Oil prices affecting Gulf countries’ economic growth
Kuwait - Mubasher: Low oil prices could be slowing economic growth in the gulf region for years to come, despite the expansion in crude oil production, said the CEO of Kuwait International Bank (KIB). Mohammed Jarrah Al-Sabah added during his …
(Photo Credit: Arabianeye-Reuters)
4 May 04:38 PM First batch of Iraqi oil shipments sent to Egypt
Cairo – Mubasher: The Iraqi Ministry of Oil has announced on Thursday that the first batch of crude oil shipments made its way to Egypt through the southern ports. The loading operations of the Egyptian tanker crude oil began on 3 May, consisting …
The UAE minister of Energy, Suhail Al Mazrouei - (Photo Archive)
2 May 05:04 PM Extending the OPEC deal is needed - Minister
By: Amr Adel Abu Dhabi - Mubasher: The Emirati minister of Energy, Suhail Faraj Al Mazrouei, said on Tuesday that global markets are in need to extend the Organization of the Petroleum Exporting Countries (OPEC) output deal. On the sidelines of …
Photo Credit: Arabianeye-Reuters
2 May 01:22 PM Oman oil up 15 cents
Mubasher: The price of Oman oil futures for July delivery increased by 15 cents per barrel today, according to the data of the Dubai Mercantile Exchange (DME). Data showed that Omani crude oil registered $50.74 per barrel (pb) on Tuesday, compared …
Photo Credit: Arabianeye-Reuters
1 May 12:22 PM Oman oil down 75 cents
Mubasher: The price of Oman oil futures for July delivery decreased by 75 cents per barrel, according to that data of the Dubai Mercantile Exchange (DME). Data showed that Omani crude oil registered $50.59 per barrel (pb) on Monday, compared to …
(Photo Credit: Arabianeye-Reuters)
30 April 11:03 AM Aramco cut propane, butane May contract prices
Riyadh – Mubasher: Saudi Aramco set its propane May contract price at $385 per tonne, down from $430 in April. The price provides a benchmark against which Middle East sales of liquefied petroleum gas (LPG) to Asia are priced, Reuters reported on …
(Photo credit: Arabianeye - Reuters)
28 April 08:30 PM US oil rigs rise for 15 week in row
Mubasher: The number of US oil-rig count has increased last week, according to data revealed by Baker Hughes on Friday. Oil rigs added nine to reach 697 rigs, up from 572 rigs last week. Brent crude futures grew 0.31% to the level of $51.98 per …
(Photo credit: Arabianeye - Reuters)
28 April 11:14 AM Oil prices rise on Friday
Mubasher: Crude oil prices went up on Friday, but it tends to record weekly losses for the second week in a row. Oil prices were supported by OPEC Secretary-General Mohammad Barkindo, who said on Thursday that the oil market was moving towards a …