Commodities

oil futures declined at Wednesday’s settlement on the back of higher US inventories
10:47 AM Kuwait’s crude oil price drops 45 cents on Wednesday
Mubasher: The price of Kuwait’s crude oil went down 45 cents to settle at $71.65 per barrel (pb) on Wednesday, compared to $72.10 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). Globally, oil futures declined …
Kuwait’s oil output increased by 13,000 bpd year-on-year in March to 2.713 mbpd
22 May 01:38 PM Kuwait’s oil exports edge up in March – JODI
Mubasher: Kuwait’s oil exports inched up 0.69% to 2.034 million barrels per day (mbpd) in March, compared to 2.020 mbpd for the same month a year earlier, according to the Joint Organisations Data Initiative (JODI). The GCC nation’s oil exports …
The trade surplus growth was attributed to a 31.8% increase in Kuwait’s exports to Japan
22 May 11:59 AM Kuwait’s trade surplus with Japan hits $642m in April
Mubasher: Kuwait’s trade surplus with Japan surged 44.4% year-on-year to JPY 70.87 billion ($642.12 million) in April from JPY 49.06 billion ($444.51 million), the Japanese finance ministry said on Wednesday. The trade surplus growth was …
Global oil prices declined on Wednesday
22 May 10:48 AM Kuwait’s crude oil price slides 86 cents on Tuesday
Mubasher: The price of Kuwait’s crude oil decreased by 86 cents to settle at $72.1 per barrel (pb) on Tuesday, compared to $72.96 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the international level, oil …
Economic reforms in Saudi Arabia have started to yield positive results
16 May 02:40 PM Saudi Arabia’s real non-oil growth to hit 2.9% in 2019 – IMF
Riyadh – Mubasher: Recent positive indicators combined with an increase in oil prices since the beginning of 2019 have boosted confidence in Saudi Arabia’s economy, the International Monetary Fund (IMF) said in its report released late on …
The price of Kuwait’s crude oil levelled up $0.62 per barrel on Wednesday
16 May 01:13 PM Kuwait’s crude oil price grows to $71.24 pb on Wednesday
Mubasher: The price of Kuwait’s crude oil levelled up $0.62 per barrel (pb) to settle at $71.24 pb on Wednesday, compared to $70.62 pb a day earlier, according to the latest data by the Kuwait Petroleum Corporation (KPC). By 6:10 pm GMT, Nymex’s …
Nymex’s futures for June settled higher by 1.2% to $61.78 pb on Tuesday
15 May 11:07 AM Kuwait’s crude oil price slides $1.14 pb on Tuesday
Mubasher: The price of Kuwait’s crude oil tumbled $1.14 per barrel (pb) to settle at $70.62 pb on Tuesday, compared to $71.76 pb a day earlier, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the international level, oil …
At the global level, oil futures were trading higher on Tuesday
14 May 01:05 PM Kuwait’s crude oil price levels up 83 cents on Monday
Mubasher: The price of Kuwait’s crude oil increased by 83 cents to settle at $71.76 per barrel (pb) on Monday, compared to $70.93 on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil futures …
About 3.6 million tonnes are expected to be received
14 May 11:26 AM Egypt receives 1.620m tonnes of wheat from local farmers
Cairo – Mubasher: Egypt’s prime minister Mostafa Madbouly has met with the minister of supply and internal trade and the minister of finance to review the plan of the local wheat supply. About 1.620 million tonnes of wheat have been received …
Egyptian free zones include 1,095 projects
12 May 02:09 PM Egypt’s free zone exports hit $6bn in 4M – Minister
Cairo – Mubasher: Exports of the Egyptian free zones amounted to $6 billion during the first four months of 2019, the Egyptian investment and international cooperation minister said on Sunday. The number of projects implemented in the Egyptian …
30 trucks have been released valued at EGP 14 million
12 May 11:28 AM Suez Customs collects EGP 38m of tax for 357 cars in March
Cairo – Mubasher: Suez Customs issued customs clearance for 357 private cars and trucks at a combined value of EGP 81.7 million in March. The government levied around EGP 38.2 million in customs duties, taxes, and charges imposed on these cars in …
Net losses amounted to EGP 77.58 million in Q1-19
9 May 11:58 AM Alexandria Portland’s losses hike 123% in Q1
Cairo – Mubasher: Alexandria Portland Cement reported a 123% year-on-year increase in its consolidated losses during the first quarter of 2019, pressured by lower consumption amid higher supply. The Egyptian cement producer’s net losses amounted …
Aramco increased June price of Arab Light grade to Asia by $0.70 pb
6 May 10:19 AM Aramco raises crude oil prices to Asia, Europe in June contracts
Riyadh – Mubasher: The Saudi Arabian Oil Co, known globally as Saudi Aramco, has raised crude oil prices to its customers in Asia and Europe for June, whereas it trimmed prices for its importers in the US, Reuters reported. The state-owned crude …
Alexandria Port has issued a clearance of 7,544 cars of various models
5 May 12:14 PM Egypt issues clearance of EGP 3.8bn cars in April
Cairo – Mubasher: The Egyptian Customs Authority has issued clearance of vehicles and spare parts worth EGP 3.84 billion at Alexandria Port in April, the authority’s head said on Sunday. The government levied around EGP 1 billion in customs …
Global oil price decreased on Monday
16 April 01:21 PM Kuwait crude oil adds 2 cents on Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 2 cents to settle at $70.72 per barrel (pb) on Monday compared to $70.70 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil price …
Saudi-US ties
5 April 06:19 PM Saudi Arabia to scrap dollar oil sales if ‘NOPEC’ passed
Riyadh – Mubasher: Saudi Arabia threatened to switch to currencies other than the dollar in oil trades, if the US passes a bill exposing members of the Organization of the Petroleum Exporting Countries (OPEC) to antitrust lawsuits, Reuters …
Global oil prices rose by more than 1.5% on Tuesday
3 April 12:49 PM Kuwait crude oil adds 60 cents on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 60 cents to settle at $69.16 per barrel (pb) on Tuesday compared to $68.56 pb on Monday, according to data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices rose by …
Crude oil reserves in the US increased by 2.8 million barrels
28 March 12:04 PM Kuwait crude oil adds 20 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 20 cents to settle at $67.28 per barrel (pb) on Wednesday from $67.08 pb in the previous session, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, …
API said the crude oil reserves decreased by 2.1 million barrels in week
20 March 05:09 PM Kuwait crude oil adds 34 cents on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 34 cents to settle at $67.55 per barrel (pb) on Tuesday compared to $67.21 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Global oil prices rose by more than 2%
14 March 11:21 AM Kuwait crude oil adds 14 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 14 cents to reach $67.1 per barrel (pb) on Wednesday compared to $66.96 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Global oil prices rose during Wednesday
13 March 12:29 PM Kuwait crude oil adds 34 cents on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 34 cents to settle at $66.96 per barrel (pb) on Tuesday compared to $66.62 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Jurassic gas fields’ value is worth $2.9 billion
12 March 04:57 PM LNG import to become Kuwait’s fuel source – KPC
Mubasher: Kuwait has plans to endorse its natural gas production capacity to become 3.5 billion standard cubic feet (scf) per day by 2031-2032 instead of the current 1.9 billion scf, CEO of the Kuwait Petroleum Corporation (KPC) Hashim Hashim said …
Global oil prices rose by more than 1%
12 March 03:06 PM Kuwait crude oil adds $1.07 on Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by $1.07 to settle at $66.62 per barrel (pb) on Monday compared to $65.55 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Aramco and Bapco announced the commissioning of the AB-4 in October 2018
11 March 04:55 PM Bahrain's Bapco mulls oil trading as refinery expanded
Mubasher: Bahrain has plans to sell and trade more petroleum products in the GCC region and Asia in line with its intention to commission the expanded oil refinery by early 2023, the CEO of oil company Bapco Pete Bartlett told Reuters. Expanding …
Brent crude oil, May futures, added 0.3%
7 March 11:11 AM Kuwait crude oil adds 12 cents – KPC
Mubasher: The price of Kuwait’s crude oil increased by 12 cents to settle at $65.64 per barrel (pb) on Wednesday compared to $65.52 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil …