EghtesadOnline: Crude oil future prices ticked higher during the mid-morning trade in Asia Friday, as the markets continued to price in a commitment from the OPEC to ensure that the members adhere to the mandated production cuts.
EghtesadOnline: Tehran stocks gained some more lost ground as angst-ridden investors started leaving the sell side, and finding share prices attractive, rushed to buy.
EghtesadOnline: Oil prices rose on Monday as a tropical storm in the Gulf of Mexico forced companies to evacuate rigs and halt production, but gains were kept in check by wider concerns about excess supply and falling fuel demand.
EghtesadOnline: The shortage and skyrocketing prices of alloy steel have scuttled over 70% of the domestic fastener sector’s production capacity, an industrialist says.
EghtesadOnline: Oil prices fell for a second day on Friday, pressured by a surprise rise in US stockpiles as the coronavirus pandemic continues to erode demand for fuels.
EghtesadOnline: Oil futures clawed back some of the losses they sustained in the previous session, but a rebound in Covid-19 cases in some countries undermined hopes for a steady recovery in global demand.
EghtesadOnline: Oil prices dropped more than 1% on Monday after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months while optimism about demand recovery cooled amid the coronavirus pandemic.
EghtesadOnline: Stationery prices have increased by 20% compared with last year due to the rise in production costs while demand for these products has dropped by 60-70% following school closures caused by the outbreak of coronavirus, Mahmoud Reza Sanatkar, the head of Stationery Producers’ Association, says.
EghtesadOnline: Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on coronavirus optimism after US regulators approved the use of blood plasma from recovered patients as a treatment option.
EghtesadOnline: Hotel occupancy rate in Tehran currently stands at 5-15%, despite a 50% discount in prices, according to the head of Tehran’s Hotel and Apartment Hotel Owners Society.