Tag: Brent crude
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Use mid-year budget to review benchmarks for crude oil prices – Energy analyst
Ahead of the presentation of the Mid-Year Review of the Budget Statement and Supplementary Estimates for the 2023 Financial Year to Parliament, an energy analyst Benjamin Nsiah is impressing on Government to review downwards its projected benchmarks for crude oil price. The government had earlier projected a benchmark oil price of 88.55 dollars per Barrel…
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Oil futures have slid below $100 as investors brace for recession
Underneath a chaotic global energy market is a dislocation between oil prices on the futures and physical market that appears to have emerged. Oil futures have undergone immense battering recently as fears of a recession come into full force. The global benchmark Brent crude fell below $100 earlier this week, heading for its 5th straight weekly loss and…
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Fuel prices to go up slightly in 1st pricing window of February – IES
Consumers of petroleum products should be paying slightly higher prices for the fuel they purchase at the country’s various pumps for the next two weeks which is the first pricing window for February, 2021. According to an analysis by the Institute of Energy Security, IES, the increase can be attributed to the 3.9% increase in…
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Lingering impact of COVID-19 causes decline in Ghana’s trade numbers
Latest data from the Bank of Ghana’s Summary of Macroeconomic and Financial Data for November 2020, shows that the country as of October 2020 had received $12 billion from its exports this year. The value was a decrease from the $12.98 billion recorded in the same period last year. The report also showed a decrease…
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Fuel prices to go up in 1st pricing window in June – IES predicts
Consumers of petroleum products are likely to pay more for the fuel they purchase at the various pumps in the first pricing window in June. That’s according to Energy think tank, the Institute of Energy Security, IES. The Institute of Energy Security explained to Citi Business News that, per its analysis, it expects the prices…
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Raymond Nuworkpor writes: Drilling through a broken oil market, repercussions for our local market
International Brent Crude plummeted momentarily on Tuesday, 21st April, the lowest since 21 years ago, but recovers a day after to hover around $20 a barrel. As the novel Coronavirus lockdown grind down many facets of our lives i.e. a grounded airline industry, a drowning hospitality sector, a quandary health industry, a crumpled supply chain…
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Oil price drop by about 30%; lowest in 4-years as Saudi-Russia ‘crude war’ escalates
Oil prices saw its lowest drop since 1991 on Monday, March 9, 2020, after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. Prior to this huge slash, crude prices had been…