Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt to unveil 'national economic development narrative' in June, focused on key economic targets    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    Italy's consumer, business confidence decline in April '25    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt's TMG eyes $17bn sales from potential major Iraq project    Egypt's Health Min. discusses childhood cancer initiative with WHO    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Asia-Pacific stocks rise on Wall Street cues    Egypt's EDA discusses local pharmaceutical manufacturing with Bayer    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Egypt expresses condolences to Canada over Vancouver incident    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Health Min. strengthens healthcare ties with Bayer    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    49th Hassan II Trophy and 28th Lalla Meryem Cup Officially Launched in Morocco    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Paris Olympics opening draws record viewers    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Oil up on Wednesday
Aya Anwar Published in Amwal Al Ghad on 23 - 04 - 2025

Oil prices rose over 1 per cent on Wednesday, driven by new US sanctions on Iranian oil exports, a decline in US crude inventories, and renewed hopes of progress in US-China trade talks.
Brent crude climbed $1, or 1.5 per cent, to $68.44 per barrel by 0640 GMT, while US West Texas Intermediate (WTI) rose 99 cents, or 1.6 per cent, to $64.66.
The US sanctioned Iranian energy figure Seyed Asadoollah Emamjomeh and his network, accusing them of exporting hundreds of millions of dollars' worth of liquefied petroleum gas and crude oil. The move heightened concerns over global supply.
Prices also gained support from American Petroleum Institute (API) data showing a 4.6 million barrel drop in US crude stocks last week, well above analysts' expectations of an 800,000 barrel decline.
Investor sentiment improved further after US President Donald Trump softened his tone towards the Federal Reserve and hinted at potential tariff reductions on Chinese imports, raising optimism about easing trade tensions that had weighed on oil demand forecasts.
Attribution: Reuters
Subediting: M. S. Salama

Clic here to read the story from its source.