SA oil depot filled to capacity – traders hoping on future price rise
SA’s 45-million barrel strategic crude reserve depot is filled to capacity as oil traders, hoping prices will rise in the future, snap up storage capacity
oil traders
Fading oil surplus prompts price gains
Oil remained higher after crude stockpiles fell more than expected last week. In that period, crude inventories dropped 2.67-million barrels as refineries bolstered operating rates.
Seven losing weeks for oil price, plumbs fresh five year lows
By Florence Tan | Reuters SINGAPORE, Jan 9 (Reuters) – Oil prices were heading for a seventh weekly loss on Friday, with key producers showing no signs of cutting output in the face of a global supply glut. Brent and U.S. crude futures both hit their lowest since 2009 this week and are down more … Read more
Russia defends Ruble with biggest rate rise since 1998
Russia took its biggest step yet to shore up the ruble and defuse the currency crisis threatening its stricken economy.
The conflict marches ahead: Brent crude steady; Libya unrest offsets demand concerns
Is WW3 about to begin? Ukrainian president Petro Poroshenko accused Russia of “direct and undisguised aggression” which has changed the balance of the battlefield being the Ukraine. German Chancellor Angela Merkel stressed that Russia’s behaviour was not an option. On the other hand Russian president Vladimir Putin has stated that there is no evidence of … Read more