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[smart_post_show id="2451"]Market Commentary
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15 December 2023Market CommentaryOil prices rose on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar. Brent futures rose 21 cents to $76.82 a barrel at 0640 GMT. U.S. West Texas Intermediate (WTI)...read more
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14 December 2023Market CommentaryAsian markets saw oil prices increase on Thursday, building on previous gains, as U.S. crude inventories reported a larger-than-expected weekly drop and the U.S. Federal Reserve signaled lower borrowing costs in 2024, boosting demand prospects. Brent futures settled at $74.49 a barrel by 0345 GMT, up 23 cents, or 0.31%. U.S. West Texas Intermediate (WTI)...
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13 December 2023SSA Market CommentaryOil prices extended losses on Wednesday in Asian trade, after falling by more than 3% to six-month lows in the previous session on oversupply and demand concerns. Brent crude futures for February fell 33 cents, or 0.45%, to $72.91 a barrel by 0621 GMT. U.S. West Texas Intermediate crude futures for January dropped 29 cents,...
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13 November 2023Market CommentaryOil prices fell on Monday, erasing gains from Friday as renewed concerns over waning demand in the United States and China, coupled with mixed signals from the U.S. Federal Reserve, dented market sentiment. Brent crude futures for January were down 61 cents, or 0.75%, at $80.82 a barrel at 0800 GMT, while the U.S. West...
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9 November 2023Market CommentaryAfter hitting four-month lows, oil prices rebounded on Thursday due to fears of a global crude demand slowdown. Brent oil futures were $80.16 a barrel, while West Texas Intermediate crude futures were $75.82 a barrel by 08:49 GMT. KENYA: Bear Market Boosts Bank Dividend Yields to Double DigitsNSE’s extended bear run lifts Standard Chartered Bank...
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8 November 2023Market CommentaryOil Prices showed resilience despite concerns over demand. Global oil prices, including Brent crude and U.S. crude, remained steady after hitting their lowest levels since July 24. Waning demand from top consumers like the U.S. and China continues to weigh on market sentiment. Brent Crude Held at $81.76, US Crude at $77.35 at 06:36 GMT....
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7 November 2023Market CommentaryOil prices slipped by 1% on Tuesday, erasing most of Monday’s gains, as mixed economic data from the world’s second largest oil consumer China and winter demand worries offset the impact of Saudi Arabia and Russia extending output cuts. Brent crude futures slipped 92 cents, or 1.08%, to $84.26 a barrel by 0714 GMT, recovering...
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6 November 2023ssa market commentaryOil prices rose on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Brent crude futures rose $1.03, or 1.21%, to $85.92 a barrel by 0834 GMT, while U.S. West Texas Intermediate crude was at $81.58 a barrel, up $1.07, or...
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2 November 2023Market CommentaryOil gained 1% on Thursday to snap its three-day decline, as risk appetite returned to financial markets after the U.S. Federal Reserve kept benchmark interest rates on hold. Brent crude futures rose 82 cents, or 1%, to $85.45 a barrel by 0657 GMT, while U.S. West Texas Intermediate crude futures advanced 83 cents, also 1%,...
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30 October 2023Market CommentaryOil prices slipped more than 1% on Monday as investors adopted caution ahead of a U.S. Federal Reserve policy meeting and China’s manufacturing data due this week, offsetting support from tension in the Middle East. Brent crude futures dropped 1%, or 97 cents, to $89.51 a barrel by 0718 GMT, while U.S. West Texas Intermediate...
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