During trading on Monday, October 11, the price of a barrel of Brent oil rose by 2% to $ 84.01. She reached this mark for the first time since October 2018. US WTI oil rose by $ 1.62 to $ 81.3 – the highest price since 2014, according to Reuters.
It is noted that Brent oil is steadily rising for the fifth week in a row, WTI – the seventh, the agency said.
This price increase is due to higher prices for natural gas and coal. As well as the resumption of global economic activity caused by a successful vaccination campaign in developed countries and, as a consequence, the removal of quarantine restrictions for businesses.
The dynamics of oil prices are also affected by expectations of a deepening global energy crisis.
Thus, in India, power outages began due to lack of coal in power plants. The Chinese government has ordered coal mining companies to increase production due to rising electricity prices.
Last week, the US Department of Energy refused to use strategic oil reserves to reduce rising gasoline prices, which was another factor in rising oil prices, the agency added.
It is also not expected to increase oil production in OPEC + countries, which have decided to keep production at current levels.
High oil prices are expected to persist for at least another three months.
Earlier, analysts at Goldman Sachs raised Brent’s forecast for the end of the year to $ 90 per barrel from $ 80 per barrel.
SoftServe is expanding its presence and opening new office spaces in four cities — Vinnytsia, Khmelnytskyi, Uzhhorod, and Odesa. They are available for 250 people working in these regions as well as other employees. The coworking in Vinnytsia where SoftServe has around 50 employees is already fully operating. Odesa is the next — office space […]
COMBINE ROAD AND COMFORT Shell is launching a new coffee brand Shell Café all over Central and Eastern Europe (CEE) (to replace […]
Radisson Hotel Group is proud to be the world’s first hotel group to make all meetings and events across 400+ hotels in its EMEA portfolio carbon negative. For every event taking place at its participating hotels, Radisson Hotel Group will offset double the carbon footprint, to ensure that every meeting has a positive impact on […]
The agreement on a single corporate tax rate of at least 15 percent was signed by 136 states, which account for more than 90 percent of world GDP. The agreement is aimed at combating tax evasion by international corporations. The initiative was also signed by countries that were initially opposed to tax reform, such as […]
The savings of Ukrainian citizens outside the banking system are estimated at $ 30-35 billion. This estimate was given by the chairman of the National Bank Kyrylo Shevchenko during the Kyiv Economic Forum. There are different estimates of the “gray” economy. We in the National Bank believe that this is up to 30% of GDP. […]
During the week, the National Bank of Ukraine bought $ 228 million on the interbank foreign exchange market. At the same time, the central bank did not sell currency on the interbank market. So the NBU continued to buy currency on the interbank market, the bank increased it compared to last week ($ 15 million) […]
The new Tesla factory in Berlin may release the first electric cars next month. CEO Elon Musk stated this. Speaking at the plant, Musk said he hoped to get the green light to begin production in the coming weeks. The last consultation on public concern about the plant ends on October 14, after which the […]
By the last calculations, Donald Trump has won in the USA elections . The majority of world editions have reported already about it which reputation don’t allow doubting the validity of this information . As the Air Force reports, for the time being, the candidate of republicans has collected 278 votes of delegates. Hilary Clinton […]Next
LDaily prepared the short overview of latest news in the sphere of business and finance for last week for the readers. If you missed something, it would a good opportunity to correct it. 1. Yaroslav Gregirchak: «Ukraine has to look as a competitive option for investment in the “supermarket” of national jurisdiction» A shoppy talk […]Next
Ukrainian company Blynk, which develops software for creating its own IoT-applications, announced a contract with a major manufacturer of Electronics – SparkFun. In collaboration was created the product SparkFun Blynk Board. Blynk also entered the start package of the SparkFun IoT Starter Kit with Blynk. The fact that the startup conducts negotiations with a major […]Next
As part of the visit of Ukrainian President Volodymyr Zelensky to the UAE, Ukroboronprom signed agreements and contracts with Tawazun Economic Council and EDGE Group to expand military-technical cooperation totaling more than $ 1 billion. The president’s office reports. It is noted that the agreement with EDGE on military and technical cooperation will allow the […]Next
Lviv Bus Plant (LAZ) won the case from the communal enterprise Kyivpastrans in payment for delivering to the communal enterprise trolleybuses for over 118 million UAH in 2012. On March 16, the Kiev Commercial Court ordered the Kievprastrans to pay Lviv Bus Plant (LAZ) Ltd. more than 118 million UAH for the delivered trolley buses, […]Next
The largest Chinese company Alibaba Group announced the acquisition of the largest English-language printed edition in Hong Kong – South China Morning Post (SCMP). The agreement between two large companies estimated at $ 266 million. Representatves of companies told about the agreement on December 14, 2015. All details of the agreement are kept in a […]Next
Shares of Adobe Systems, which rose to 76% over the past 12 months, increased by 2.8% after the announcement of a strong 3rd quarter, traditionally considered seasonally weak. “Adobe has demonstrated the best third quarter in our history,” said Shantanu Narayen, president and CEO of Adobe. “We are confident that our leadership in digital services […]Next
The press service of Hawkley reports that Hawkley Oil & Gas Limited Australian mining company had reported about the Ukrainian company sale transaction assets of Tomeas Assets Ltd. The amount of transaction has constituted 1 million dollars. Negotiations on sale have continued since February 2016. Reportedly that Hawkley Oil & Gas Limited will allocate proceeds […]Next
On Monday, shares of Amazon.com.Inc., Apollo Global Management and Rackspace Technology, which recently was listed on NASDAQ, rose respectively by 1.1%, 2.45% and 10.3%. Positive news was reported by Reuters, about Amazon’s potential investment in Rackspace, which is both a partner and a competitor of the technology giant. Rackspace is an expert on multi-cloud solutions, […]Next
With the appearance of an effective vaccine against coronavirus and the subsequent recovery of the world economy, the US dollar may fall by 20%. This was reported by the Financial Times. It is noted that banks, which already had negative forecasts for the dollar next year, deteriorated expectations against the background of the emergence of […]Next
In January-October 2020, Ukraine reduced exports of agricultural products by 1.7% compared to the same period last year. According to the Ukrainian Club of Agrarian Business Association exports were reduced exactly to $ 17.6 billion. According to this data, imports of agricultural products for the reporting period increased by 14.4% to $ 5.1 billion. Thus, […]Next
In 2021, NJSC Naftogaz of Ukraine expects to receive UAH 121,808 million in net sales revenue. This is stated in the explanatory note to the draft order of the Cabinet of Ministers on the approval of the financial plan of the NJSC. According to the document, the net profit is planned at 2,435 million hryvnias. […]Next
Richard Branson’s aerospace company Virgin Galactic has announced a contract for a special research flight by Kelly Gerard, a member of the International Space Institute (IIAS). The astronaut will conduct experiments and test new health technologies while in space. The company’s shares in the premarket rose 7.61% to $ 33.5. “Much of our mission is […]Next
The American pharmaceutical company Bristol-Myers Squibb announced that it will buy biotech MyoKardia for $ 13.1 billion. Quotes of the MyoKardia at the previous trading increased by 59%. Bristol will pay $ 225 for each share of the MyoKardia, corresponding to 61% premium to the value of the company’s securities at the close of trading […]Next
The Government of Canada and, directly, the municipality of the largest city Toronto will help to improve automotive industry Honda. This information is provided by investment portal InVenture Ukraine. It is known that the forward Japanese manufacturer of motorcycles and automobiles will invest in their businesses in the central Canadian provinces – Ontario (Mr. Elliston) […]Next
The cryptocurrency Dogecoin, which contains an image of a dog shiba-inu, on Monday, February 8, reached a record high after billionaire Elon Musk, rapper Snoop Dogg and bassist Kiss Gene Simmons wrote about it on Twitter, according to Bloomberg. Thus, according to the CoinGecko platform, the value of the token rose to a peak of […]Next