{"id":547252,"date":"2022-06-14T04:20:57","date_gmt":"2022-06-14T04:20:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/14\/asia-is-lapping-up-russian-crude\/"},"modified":"2022-06-14T04:20:57","modified_gmt":"2022-06-14T04:20:57","slug":"asia-is-lapping-up-russian-crude","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/14\/asia-is-lapping-up-russian-crude\/","title":{"rendered":"Asia is lapping up Russian crude"},"content":{"rendered":"

<\/a> Russia doesn\u2019t seem to be having problems finding buyers for its crude:<\/strong> Moscow is selling an \u201cunprecedented\u201d volume of crude to buyers in Asia as it redirects flows ahead of the EU\u2019s partial oil embargo, which will see it cut imports by 90% by the end of the year, Bloomberg<\/a> reports. Asian purchasers, led by China and India, are clinching nearly half of crude shipped from Russia\u2019s ports, and last week around 860k barrels a day of Asia-bound crude were loaded from Russia\u2019s western terminals alone.<\/p>\n

The same can\u2019t be said for Libya:<\/strong> Oil production in Libya has all but ground to a halt after demonstrators forced the shutdown of two of the country\u2019s key oil ports, placing further stress on the tight global market. (Bloomberg<\/a>)<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/p>\n<\/td>\n

\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

10,015<\/p>\n<\/td>\n

\n

-0.8% (YTD: -16.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

\"Up\"<\/p>\n<\/td>\n

\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 18.67<\/p>\n<\/td>\n

\n

Sell 18.75<\/p>\n<\/td>\n<\/tr>\n

\n

\"Up\"<\/p>\n<\/td>\n

\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 18.69<\/p>\n<\/td>\n

\n

Sell 18.75<\/p>\n<\/td>\n<\/tr>\n

\n

\"None\"<\/p>\n<\/td>\n

\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

11.25% deposit<\/p>\n<\/td>\n

\n

12.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,053<\/p>\n<\/td>\n

\n

-2.2% (YTD: +6.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,459<\/p>\n<\/td>\n

\n

-1.8% (YTD: +11.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,287<\/p>\n<\/td>\n

\n

-2.7% (YTD: +2.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

3,750<\/p>\n<\/td>\n

\n

-3.9% (YTD: -21.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,206<\/p>\n<\/td>\n

\n

-1.5% (YTD: -2.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

3,503<\/p>\n<\/td>\n

\n

-2.7% (YTD: -18.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

\"Up\"<\/p>\n<\/td>\n

\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 122.19<\/p>\n<\/td>\n

\n

+0.2%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 8.61<\/p>\n<\/td>\n

\n

-2.7%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,831.80<\/p>\n<\/td>\n

\n

-2.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/p>\n<\/td>\n

\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 23,002<\/p>\n<\/td>\n

\n

-15.9% (YTD: -49.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 fell 0.8% at yesterday\u2019s close<\/strong> on turnover of EGP 646 mn (22.4% below the 90-day average). Foreign investors were net sellers. The index is down 16.2% YTD.<\/p>\n

In the green: <\/strong>Rameda (+1.9%), Eastern Company (+1.7%) and Abu Dhabi Islamic Bank Egypt (+0.8%).<\/p>\n

In the red: <\/strong>GB Auto (-6.5%), Madinet Nasr Housing (-5.7%) and Ezz Steel (-4.9%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Russia doesn\u2019t seem to be having problems finding buyers for its crude: Moscow is selling an \u201cunprecedented\u201d volume of crude to buyers in Asia as it redirects flows ahead of the EU\u2019s partial oil embargo, which will see it cut imports by 90% by the end of the year, Bloomberg reports. Asian purchasers, led by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[93,72,119,220,91,122,270],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547252","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-energy","tag-enterpriseam","tag-financial-markets","tag-libya","tag-oil-and-gas","tag-planet-finance","tag-russia","wpautop","entry"],"acf":{"mongo_id":"f999215f-d8e0-4e41-890d-3cc62d224e23","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[547225],"teaser":"","voice_url":""},"yoast_head":"\nAsia is lapping up Russian crude - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/14\/asia-is-lapping-up-russian-crude\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia is lapping up Russian crude\" \/>\n<meta property=\"og:description\" content=\"Russia doesn\u2019t seem to be having problems finding buyers for its crude: Moscow is selling an \u201cunprecedented\u201d volume of crude to buyers in Asia as it redirects flows ahead of the EU\u2019s partial oil embargo, which will see it cut imports by 90% by the end of the year, Bloomberg reports. 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How sharply? Last month 51 shipments of oil were sent from Russia to Egypt, up from just\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547682,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/prepare-for-stratospheric-oil-prices\/","url_meta":{"origin":547252,"position":1},"title":"Prepare for \u201cstratospheric\u201d oil prices?","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"Oil could reach a \u201cstratospheric\u201d USD 380 a barrel if Russia continues to slash output to EU countries in response to escalating Western sanctions, JPMorgan analysts warned in a note to clients cited by Bloomberg. G7 nations have been working towards implementing a price cap on Russian oil in a\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648465,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/04\/rosneft-in-strategic-push-for-middle-east-markets\/","url_meta":{"origin":547252,"position":2},"title":"Rosneft in strategic push for Middle East markets","author":"enterpriseam admin","date":"4 April 2017","format":false,"excerpt":"Russia\u2019s Rosneft is expanding a strategic push into Middle East energy markets and its attempts to expand trading after trumpeting agreements in Egypt and Libya, Henry Foy writes for The FT. Foy suggests Rosneft is buying more oil from the region, to replace supplies lost in the dissolution of a\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591104,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/31\/oil-prices-look-to-notch-biggest-monthly-gains-since-january-2022-in-july\/","url_meta":{"origin":547252,"position":3},"title":"Oil prices look to notch biggest monthly gains since January 2022 in July","author":"enterpriseam admin","date":"31 July 2023","format":false,"excerpt":"Brent and US crude have hit their highest levels since April as the market tightens","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1257.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":692230,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/07\/egypt-secures-libyan-crude-to-compensate-for-hormuz-strait-closure-disruptions\/","url_meta":{"origin":547252,"position":4},"title":"Egypt secures Libyan crude to compensate for Hormuz Strait closure disruptions","author":"enterpriseam admin","date":"7 April 2026","format":false,"excerpt":"Turning to Libyan barrels to cut shipping costs and reduce supply chain risk","rel":"","context":"In "The Big Story Today"","block_context":{"text":"The Big Story Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-big-story-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1190.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543679,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/planet-finance-stocks-are-down-oil-is-up-as-ukraine-crisis-spurs-volatility\/","url_meta":{"origin":547252,"position":5},"title":"Planet Finance: Stocks are down + oil is up as Ukraine crisis spurs volatility","author":"enterpriseam admin","date":"13 February 2022","format":false,"excerpt":"Stocks plunge, oil prices rally over Ukraine invasion concerns: Stocks ended last week in the red, while oil prices soared on the back of fears of escalation in the Ukraine-Russia conflict. Brent crude futures settled at USD 94.44 a barrel on Friday as the threat of war in Ukraine pressured\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=547252"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547252\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547225"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547252"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547252"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}