OIL PRICE
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ENERGY
US releasing 53mn barrels from strategic oil reserve to mitigate fallout from war on Iran
The US is releasing 53.3 million barrels of crude oil from its Strategic Petroleum Reserve in an attempt to stabilize global markets affected by Iran war.
ON THE NEWS LINE
US drive to cap Russian oil price
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BUSINESS
Oil extend losses into 3rd day on US stock build, pandemic fears
Oil prices extended their losses into a third day on Thursday as a surprise build-up in US crude inventories and a resurgence of COVID-19 cases in India and Japan fuelled fears that a recovery in global economy and fuel demand may be stalled.
BUSINESS
Oil hits one-month highs as IEA, OPEC raise forecasts
Oil prices increased on Thursday to the highest level in almost a month, after rising 5% in the previous session.
IRAN TODAY
Resistance to the oil price plummet
The plummeting of oil price affects Iran’s economy the least compared to others!
ON THE NEWS LINE
Saudi economic crisis
Amid falling oil prices and the coronavirus crisis, Saudi Arabia has decided to resort to tough economic measures to contain the fallout.
INTERVIEWS
'Most oil-producing nations are suffering as crude prices fall'
An economic expert says the drop in crude prices means that most oil producing nations, including Saudi Arabia, are suffering and will face a tough year.
SAUDI ARABIA
Saudis started oil price war after MBS-Putin shouting match: Report
Saudi crown prince threatened Russian president over production cuts prior to flooding market in a telephone call, the Middle East Eye reports.
ECONOMY
Wall Street drops as oil traders cannot give away US crude
Wall Street tumbled on Monday after US crude futures turned negative for the first time ever, with traders forced to pay to unload crude as the May contract expired during a global economic slump unleashed by the coronavirus outbreak.
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