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04 June 08:02 AM

Commodities

Borg El-Arab Petroleum and Mineral Company drilled El Salmiya-5 well
3 June 11:14 AM Egypt makes new oil discovery in Western Desert
Cairo – Mubasher: Egypt has made a new oil discovery in Abu Senan area in the Western Desert. The discovery was made after Borg El-Arab Petroleum and Mineral Company drilled El Salmiya-5 well which started to produce 4,100 barrels of crude oil and …
Commodities
Brent futures were up by $1.25 on Tuesday
3 June 09:29 AM Kuwait’s crude oil nears $34 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil settled higher by 89 cents on Tuesday to reach $33.9 per barrel (pb) when compared to $33.01 pb a day earlier, according to the official prices of the Kuwait Petroleum Corporation (KPC). Global oil prices …
Macroeconomics
Egypt aims to purchase 3.6 million of wheat from local farmers
2 June 05:57 PM Egypt buys 120K tonnes of Ukrainian wheat
Cairo – Mubasher: The Egyptian General Authority for Supply Commodities (GASC) announced the purchase of 120,000 tonnes of wheat sourced from Ukraine. The shipment will take place between 10 and 25 July, according to a statement on Tuesday. …
Commodities
Brent futures closed Monday up by 48 cents
2 June 09:21 AM Kuwait’s crude oil jumps $5.63 on Monday - KPC
Mubasher: The price of a barrel of Kuwait’s crude oil surged by $5.63 on Monday to finish at $33.01 when compared to $27.38 last Friday, according to the official prices of the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Commodities
Photo Archive
31 May 04:01 PM Tadawul lists AlBilad Gold ETF
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced the listing and trading units of “AlBilad Gold ETF” as an exchange-traded fund (ETF). on Tuesday 2 June 2020. The units if the fund will be traded under the symbol 9405. The Saudi …
Markets Regulations
Butane prices for June have been reduced to $330 a tonne
31 May 01:21 PM Saudi Aramco raises propane price for June, lowers Butane
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has increased the price of its propane futures for June delivery to $350 a tonne from $340 in May, a pricing document reported by Reuters showed on Sunday. Butane prices for June have …
Commodities
The UAE's oil production in May came in line with the OPEC+ agreement
31 May 10:19 AM UAE delivers 2.4m bpd in May
UAE - Mubasher: The UAE has produced 2.40 million crude oil barrels per day (bpd) in May, a source told Reuters. The UAE's oil production in May came in line with OPEC+ agreement to cut oil supply by 9.7 million bpd as of 1 May, due to a decrease …
Commodities
The per-litre price of Super 98 gasoline will be maintained at AED 1.91
28 May 05:31 PM UAE announces fuel prices for June
UAE – Mubasher: Fuel prices will remain unchanged in June in the UAE when compared to prices in May, the UAE Fuel Price Follow-up Committee announced. The per-litre prices of Super 98-octane gasoline, Special 95-octane gasoline, diesel, and E-Plus …
Commodities
Brent crude oil for July delivery retreated by 4.6% or $1.65
28 May 10:58 AM Kuwait’s crude oil down to $28.05 pb – KPC
Mubasher: The price of Kuwait’s crude oil fell by 56 cents to $28.05 per barrel (pb) on Wednesday from $28.61 pb on Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC). Globally, Brent crude oil for July …
Commodities
The global oil market has been supported by OPEC’s output cut deal
27 May 05:57 PM Kuwait’s crude oil rises $2.14 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil reached $28.61 per barrel (pb) on Tuesday, 26 May, up by $ 2.14, compared to $26.47 pb last Friday, according to the official prices released by Kuwait Petroleum Corporation (KPC). The global oil market …
Commodities
Photo Archive
26 May 02:43 PM Oman crude oil up 68 cents on Tuesday
Mubasher: The price for Omani crude oil for July delivery increased by 68 cents on Tuesday, according to the Dubai Mercantile Exchange (DME). The barrel price amounted to $37.70 on Tuesday, compared to $37.02 on Monday. The price for June …
Commodities
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla
25 May 01:41 PM Egypt plans EGP 19bn investments in petrochemical projects
Cairo - Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources is considering the implementation of 11 new petrochemical projects at a total value of around EGP 19 billion, Minister of Petroleum and Mineral Resources Tarek El-Mulla …
Commodities
Photo Credit: Saudi Press Agency (SPA)
24 May 11:29 AM Saudi Arabia to invest in Iraq’s Akkas gas field
Mubasher: Saudi companies plan to invest in Iraq’s Akkas gas field, as per a recent agreement between the two countries, Reuters reported. Both countries are also cooperating to ensure restoring the global oil market balance, in line with the …
Commodities
Egypt's production of natural gas increased to 7 bcf in September
24 May 10:41 AM Egypt's natural gas production reaches 7.2 bcf per day
Cairo - Mubasher: Egypt's daily production capacity of natural gas reached an average of 7.2 billion cubic feet (bcf), Reuters reported citing a recent statement by the Egyptian cabinet. In September, Egypt's production of natural gas increased to …
Macroeconomics
Global oil prices jumped by 5% on Wednesday
21 May 12:00 PM Kuwait’s crude oil down 3 cents on Wednesday – KPC
Mubasher: The price of a barrel of Kuwait’s crude oil settled lower by 3 cents on Wednesday to stand at $26.89 when compared to $26.92 a barrel a day earlier, according to the official prices released by the Kuwait Petroleum Corporation (KPC). …
Macroeconomics
Global oil prices fell on Wednesday
20 May 01:25 PM Kuwait’s crude oil up 34 cents on Tuesday - KPC
Mubasher: Kuwait’s crude oil price inched up by 34 cents on Tuesday to finish at $26.92 per barrel (pb) from $26.58 pb a day earlier, according to the official prices released by Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Commodities
Brent futures for July leaped by 7.1% on Monday
19 May 11:49 AM Kuwait’s crude oil rises to $26.58 a barrel Monday - KPC
Mubasher: The price of a barrel of Kuwait’s crude oil amounted to $26.58 on Monday, up by 82 cents when compared to $25.76 a barrel last Friday, according to the official prices released by the Kuwait Petroleum Corporation (KPC). Global oil prices …
Macroeconomics
Egypt aims to purchase 3.6 million tonnes of local wheat this season
18 May 02:01 PM Egypt’s strategic food reserves sufficient for 5M
Cairo – Mubasher: Egypt’s strategic reserve of staple commodities is sufficient for the coming five months, minister of supply and internal trade Aly El-Meselhy said. The government aims to increase its stock of key commodities in order to achieve …
Commodities
The price of Oman oil hiked by $18.3 per barrel on Friday
18 May 12:23 PM Oman crude oil price doubles since output cut came into effect
Mubasher: The price of Oman crude oil futures has doubled since the oil production cut agreement by the OPEC+ group and other major producers was applied in time for May deliveries. On Friday, 15 May, the price of Oman oil hiked by $18.3 per …
Commodities
Kuwait's oil output grew by 259,000 b/d in April
14 May 03:17 PM Kuwait’s crude oil output jumps to 3.1m b/d in April
Mubasher: Kuwait’s crude oil production climbed by 259,000 barrels per day (b/d) during April 2020 to reach 3.13 million b/d from 2.87 million b/d in March, according to a report by OPEC. Since the beginning of the year, demand for crude oil has …
Macroeconomics
Global oil prices rose on Wednesday
14 May 12:00 PM Kuwait’s crude oil up 45 cents Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil settled higher by 45 cents on Wednesday to reach $21.99 a barrel when compared to $21.54 a barrel a day earlier, according to the latest data by Kuwait Petroleum Corporation (KPC). Global oil prices rose …
Commodities
The price of crude oil globally rose by around 7%
13 May 12:56 PM Kuwait's crude oil rises 29 cents on Tuesday
Mubasher: The price of Kuwait's crude oil increased by 29 cents to settle at $21.54 per barrel (pb) on Tuesday, compared to $21.25 on Monday, 11 May, according to the latest data by the Kuwait Petroleum Corporation (KPC). At a global level, the …
Macroeconomics
The government will pay farmers between EGP 670 and EGP 700 per ardeb
12 May 04:00 PM Egypt buys 2.1m tonnes of local wheat since mid-April
Cairo – Mubasher: The Egyptian Ministry of Supply received 2.138 million tonnes of wheat from local farmers since the beginning of this season which started in mid-April. The government will pay farmers between EGP 670 and EGP 700 per ardeb (150 …
Macroeconomics
Global oil prices fell by about 2% on Monday
12 May 12:05 PM Kuwait’s crude oil up 62 cents on Monday – KPC
Mubasher: The price of Kuwait’s crude oil rose by 62 cents on Monday to settle at $21.25 per barrel (pb) from $20.63 pb last Friday, according to official prices released by Kuwait Petroleum Corporation (KPC). Global oil prices fell by more than …
Macroeconomics
Saudi oil production in June is seen at 7.492 million b/d
11 May 03:33 PM KSA orders voluntary additional oil output cut
Riyadh – Mubasher: Saudi Arabia’s Ministry of Energy has directed Saudi Aramco to reduce crude oil production in June, Saudi Press Agency (SPA) reported. The output will include an extra voluntary amount of one million barrels per day (b/d), in …
Sector Reports