CRUDE OIL

‘Gold For Crude Oil’ Move Still Being Discussed, PMMC To Play Vital Role In implementation – BoG Governor
28 Nov

‘Gold For Crude Oil’ Move Still Being Discussed, PMMC To Play Vital Role In implementation – BoG Governor

wontumionlineSports,
The Precious Minerals Marketing Company (PMMC) will play a key role in the move to buy crude oil with gold, Governor of the Bank of Ghana (BoG) Dr Ernest Addison, has said. The PMMC, he said, will be buying a lot of the gold from licensed gold exporters who he indicated, have significant amount of gold. “The PMMC will be providing most of the gold to be used for crude oil swap,” he said during the Monetary Policy Committee (MPC) press conference in Accra on Monday, November 28. Meanwhile, Vice President Dr Mahamudu Bawumia has stated that some analysts and commentators have misinterpreted Ghana’s stated policy…
Read More
Oil Prices Fall Below $90; Fuel Prices May Go Down On September 16
08 Sep

Oil Prices Fall Below $90; Fuel Prices May Go Down On September 16

wontumionlineBusiness, , , ,
Oil prices have fallen below $90 dollars per barrel on the world market, following fears of global economic recession. This could cause a reduction in fuel prices at the pumps on September 16, 2020 if the trend continues. Brent crude futures sold at $88 a barrel, falling below the 90 dollars a barrel for the first time since February 8, 2022. Analysts believe the slowing demand for the commodity in Europe, cut in production by Organisation of the Petroleum Exporting Countries (OPEC), coupled with interest rates hike by Central Banks are some of the major factors influencing the fall in oil…
Read More
05 Aug

Crude Oil Price Falls To Nearly $90 Per Barrel

wontumionlineBusiness
The price of crude oil continues to fall as the commodity —which peaked at more than $130 barrels in March 2022— has given up all the gains triggered by Russia’s war on Ukraine, falling to nearly $90 a barrel. But the reasons for this, given the tight supply, are complicated. This fall in the price of the crude oil is nearly six-months low JPMorgan says a US recession looks increasingly less likely in the eyes of the stock market. If this continues, prices of petroleum products on the local market will see the biggest reduction in the next pricing window on August 15th, 2022. However,…
Read More