Brent Holds At $80 After Red Sea Attacks
Attacks on shipping in the Red Sea continued over Christmas, but Brent crude failed to extend its rally on Wednesday morning.
Source: oilprice.com
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Russia, Iran Officially Ditch U.S. Dollar for Trade
Russia and Iran have agreed to use their local currencies for trade, bypassing the US dollar, amidst broader global efforts to reduce reliance on the American currency.
Source: oilprice.com
Oil Prices Gain Ahead Of Christmas
Brent crude hovers near $80 per barrel amid low-volume trading before Christmas. Traders are set to begin the new year amid heightened geopolitical risk in the Middle East.
Source: oilprice.com
Andurand's Wrong-Way Bet on Oil Cost Fund 54%
Following a three-year Midas Touch streak, oil trader Pierre Andurand’s main hedge fund has lost 54% so far this year, and is set to rack up more losses before the year’s end, making this the worst 12 months for the fund in its history
Source: oilprice.com
Russia, Iran To Benefit as Venezuelan Crude Discount Narrows
Russia and Iran could see higher revenues from oil as sellers raise prices to China as a result of competition from temporary easing of sanctions on Venezuelan oil
Source: oilprice.com