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Oil prices continue to rise and maintain gains for the fifth day

2019-09-10 08:36 am | Resource: | No Views : 19

 Oil prices continue to rise and maintain gains for the fifth day

Oil continued its gains, reaching its highest close since July 31st. After the new Saudi energy minister indicated his commitment to production cuts ahead of the meeting of "OPEC" and its allies later this week.

Aramco's initial public offering (IPO) will soon have a secondary listing

Saudi Aramco's long-awaited initial public offering (IPO) will come very soon, its chief executive told reporters on Tuesday. "What we have always said is that Aramco is ready to list when shareholders decide to list," he said in Abu Dhabi. "As you heard from HRH Prince Abdul Aziz, it will be very soon. So, we are ready - that's the point."

Over the weekend, it is reported that JPMorgan is approaching winning the leading IPO advisory role. JPMorgan Chase & Co. is on the verge of winning a leading advisory role for Saudi Aramco's initial public offering (IPO).

A final decision is expected next week, the sources said. Morgan Stanley was reportedly out of the race because the Saudis were unhappy with the way the bank handled Uber's IPO in May.

Earlier this week, Saudi Arabia sacked Energy Minister Khalid al-Falih from his post as chairman of Aramco. The Saudi Crown Prince Mohammed bin Salman's brother, Saudi Energy Minister Prince Abdul Aziz bin Salman, made his first statement after taking office, saying there would be no radical change in the kingdom's oil policy. Nasser explained: "The main list is listing locally but we are also ready for inclusion abroad in other areas."

Oil Trading
  • Brent crude futures rose 0.45% to $ 62.87 a barrel, extending gains after rising yesterday at $ 62.59.
  • US crude futures rose 0.5% to $ 58.15 a barrel, after rising on Monday by $ 1.33 to $ 57.85 a barrel.

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Best Opportunities, Vision and Technical Analysis for The Oil 17 April 2019

(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

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