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Petrobras (PBR) Raises Domestic Gasoline Prices in Brazil
Brazil has been facing several financial challenges, with crude oil prices increasing by 13% this year, recently hitting $87 per barrel, the highest since April.
Petroleo brasileiro SA Petrobras has raised gasoline prices for the first time in 11 months, which may further exacerbate inflation in Brazil.
As crude oil prices rise and mmf depreciates, Petroleo Brasileiro SA Petrobras announced on Monday that it will raise dealer rbob gasoline prices by 7.1% to 3.01 reals per liter ($0.55 USD) each.
GTJA Securities: Crude oil prices continue to trade in line with seasonal expectations.
Last week, crude oil prices continued to remain strong and broke through previous resistance levels. In terms of demand, according to the EIA report, the demand for refined products improved marginally month-on-month and crude oil inventory reduction was better than expected.
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Petrobras Surprises With First Gasoline Price Hike in 11 Months
Sector Update: Energy Stocks Slipping Late Monday Afternoon
Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.8%.The Philadelphia Oil Service Sector index was adding 0