RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Commodities

Oil Prices Rise Above $70 as Omicron Concerns Slide

Rate Captain by Rate Captain
December 6, 2021
in Commodities, Economics, News
Reading Time: 1 min read
A A
0

Separator. Equipment for oil separation. Modular oil treatment unit. Bulite for separation

Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

OFIs: CBN sets criteria for enrollment onto credit risk management system

Crude oil hit $111 a barrel amid weak dollar and OPEC’s stance to aid Russia

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

As the possibility of Iranian oil export continues to falter, and research suggesting that the Omicron variant of the Covid-19 Virus only poses a mild threat, oil prices rose above $71.

Brent Crude rose by 2.5%, to $71.65 by 09:20 GMT while U.S. West Texas Intermediate crude increased by 2.6%, to $67.95.

An Oando analyst, Jeffrey Halley stated “If Omicron is proven over the coming days (or weeks) to be less aggressive, even if it is more contagious, then we can say 100% last week’s lows were the bargain of the quarter,”

Equities in Europe as a well as bonds also experienced a major boost due to the easing of Omicron fears.

The restraint placed by the Organization of the Petroleum Exporting Countries and allies on oil supply has initiated a rise in prices of Brent by 38%. Concurrently strong recovering demand has also led to a three year high price of oil.

Last week, OPEC+ decided to continue increasing monthly supply by 400,000 barrels per day in January, even after a slide in prices driven by Omicron concerns.

On Sunday, Saudi Arabia disclosed It’s January’s official selling prices for all crude grades sold to Asia and the United States will increase by 80 cents from the previous month.

Previous Post

Litecoin Continues Downward Trend

Next Post

Gold Futures Increases Marginally to $1,784.15

Related News

CBN Advises Nigerian Commercial Banks to Pay more attention to financial transactions linked with Benin Republic

OFIs: CBN sets criteria for enrollment onto credit risk management system

by Rate Captain
May 25, 2022
0

The Central Bank of Nigeria (CBN) has criteria to be met by Other Financial Institutions (OFIs) to qualify for enrollment...

CBN say Nigeria would reap the benefits of a rising oil price

Crude oil hit $111 a barrel amid weak dollar and OPEC’s stance to aid Russia

by Rate Captain
May 23, 2022
0

Oil prices increased at the start of the week as investors tightened their purse strings as fears about global growth...

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

by Rate Captain
May 19, 2022
0

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance...

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

by Rate Captain
May 19, 2022
0

Ghana has started the bulk purchase of the yellow metal-Gold, to raise the gold component of its reserves in a...

Next Post

Gold Futures Increases Marginally to $1,784.15

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

IMF Cautions Central African Republic against Adopting Bitcoin

5 cryptos that could strengthen your portfolio in June

May 25, 2022
CBN Advises Nigerian Commercial Banks to Pay more attention to financial transactions linked with Benin Republic

OFIs: CBN sets criteria for enrollment onto credit risk management system

May 25, 2022

Popular Story

  • European Commission Proposes a Halt in Ukrainian Export Duties

    ECB warns that unbacked crypto assets represent a risk to financial stability

    0 shares
    Share 0 Tweet 0
  • For $3 each, a man sells 933 selfies as NFTs, and the collection is now worth millions.

    0 shares
    Share 0 Tweet 0
  • Interpol, Kenya Government Probe Three Nigerian Fintech Tycoons over N128 Billion from Nigeria

    0 shares
    Share 0 Tweet 0
  • Brazil’s Largest Crypto Exchange Partners With Stellar To Work on a CBDC

    0 shares
    Share 0 Tweet 0
  • 5 cryptos that could strengthen your portfolio in June

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.