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- Qatar, Germany discuss mutual investments to strengthen ties
- Al Ahlia wins contract to build largest Merc-Benz facility in Kuwait
- Quarterly earnings announcements, tariff hold support stock market's rise: financial analyst
- Gold rebounds on dip buying despite US-China trade deal hopes
- China says US should revoke unilateral tariffs, denies talks
- Saudi Awwal Bank signs SR2 billion credit facility with Saudi Binladin Group
- World Bank forecasts MENA growth at 2.6% in 2025, 3.7% in 2026
- Oil Updates - crude steadies after 2% drop on potential OPEC+ output increase
- PIF-owned AviLease secures $1.5bn credit facility to boost global expansion
- Saudi Arabia ramps up mining investment as sector outpaces global peers
10/05/2010 00:00 AST
Crude oil prices inched up Monday, as global investors welcomed the news that European Union leaders agreed on a $900 billion bailout plan for Greece.
Crude for June delivery rose $1.69 or 2.25%, settling at $76.80 a barrel Monday.
Meanwhile, gasoline prices fell for the fourth day in a row, slipping to $2.908 a gallon from $2.914 the day before.
The price of crude rose along with global markets Monday after the EU and the International Monetary Fund approved a $900 billion rescue plan for debt-strapped European countries. In a separate show of support, the U.S. Federal Reserve joined central banks in Canada and Europe to re-establish a program supporting credit markets.
The European Central Bank also announced overnight it will buy government and private bonds to rescue the euro.
The news boosted optimism in Europe, giving investors two incentives to buy oil. A recovering European economy could boost demand for fuel, and second, more euros circulating could make a tangible commodity a more attractive investment than paper currencies.
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CNNMoney
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 67.96 | 2.11 | 3.2 |
| WTI | 64.68 | 2.21 | 3.54 |
| OPEC Basket | 68.06 | 0.41 | 0.61 |
25/04/2025
Oil prices ticked up on Thursday after falling nearly 2 percent in the previous session, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White Ho
Reuters
24/04/2025
Oil prices climbed more than 1 percent on Wednesday, extending the prior day's gains, as investors weighed a fresh round of US sanctions on Iran, a drop in US crude stocks and a softer tone from Pres
Reuters
23/04/2025
Saudi Arabia's crude oil production rose to 8.95 million barrels per day in February, marking a 0.34 percent monthly increase, according to the latest release from the Joint Organizations Data Initia
Arab News
23/04/2025
Oil prices climbed on Tuesday as investors took advantage of the previous day's losses to cover short positions, although concerns persisted over economic headwinds from tariffs and US monetary polic
Reuters
21/04/2025
Oil prices fell 1.5 percent on Monday as investors once again focused on concerns US tariffs on its trading partners will create economic headwinds that will reduce fuel demand growth, according to R
Reuters
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