{"id":606438,"date":"2023-09-17T00:00:00","date_gmt":"2023-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/17\/oil-prices-are-creeping-closer-to-usd-100\/"},"modified":"2023-09-17T00:00:00","modified_gmt":"2023-09-17T00:00:00","slug":"oil-prices-are-creeping-closer-to-usd-100","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/17\/oil-prices-are-creeping-closer-to-usd-100\/","title":{"rendered":"Oil prices are creeping closer to USD 100"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong> THERE\u2019S <\/strong><strong> JUST ONE DAY TO GO- <\/strong><strong> The Enterprise Finance Forum takes place <\/strong><strong> tomorrow and Tuesday <\/strong> at the St. Regis Hotel on the Nile Corniche. This flagship forum is the latest in our must-attend series of invitation-only events, where CEOs, bankers, investors, founders, and corporate leaders will meet to discuss the trends shaping the future of banking, finance, NBFIs, and fintech \u2014 and of their clients.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This invitation-only event begins at 8:00am with a standing networking breakfast and will end at 1:20pm both days<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** Registered attendees will receive their personal QR code today. <\/strong>Please bring this code with you both days to guarantee access to the venue. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> There will be plenty of parking available at the venue <\/strong> for all those attending. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/index.html#agenda\" style=\"\" rel=\"noopener\">Tap or click here to view the FULL AGENDA with SPEAKERS.<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What to expect: <\/strong>Join<strong> Karim Awad <\/strong> (<font face=\"Arial\">group&nbsp;<\/font>CEO, EFG Holding), <strong> Hazem Moussa <\/strong> (chairman, Contact Financial Holding), <strong> Tamer El Emary <\/strong> (group CEO, GB Capital), <strong> Todd Wilcox <\/strong> (CEO, HSBC Egypt), <strong> Leila Serhan <\/strong> (group country manager and senior vice president for North Africa, Levant and Pakistan, Visa), <strong> Pakinam Kafafi <\/strong>(CEO, Taqa Arabia), and many others for talks on everything from investing in uncertain times, to whether NBFIs are a bubble, and what the customers of financial institutions are saying about their bankers behind their backs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** We are honored to count some of the region\u2019s most important financial institutions as <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> our partners for this special event. <\/strong>The Enterprise Finance Forum could not take place without the support of our partners including Banque Misr, Al Baraka Bank, FABMISR, HSBC, Mashreq, Banque du Caire, CI Capital, Global Corp, Visa, Hassan Allam Utilities, the IFC, and Post for Investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/finance.enterprise.news\/index.html#agenda\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/42.png?ssl=1\"><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong> ELECTION <\/strong><strong> 2024 <font face=\"Arial\">or&nbsp;<\/font><\/strong><strong>2023? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong> Could we be heading to an earlier-than-expected election? <\/strong> That\u2019s according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-14\/egypt-considers-holding-presidential-vote-as-soon-as-this-year\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, which reported on Thursday that the government could seek a vote before the end of the year, citing unnamed sources it says are familiar with the matter. Under current plans, candidates would be invited to register from the beginning of October ahead of a vote in early December, according to the news outlet\u2019s sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> BUT- <\/strong>Nothing is yet set in stone and the current timetable could still change, Bloomberg said,<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> The National Election Authority is set to soon hold a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b753a49-fcf0-47ad-9002-00f6ad1d9c17\" style=\"\" rel=\"noopener\">press<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b753a49-fcf0-47ad-9002-00f6ad1d9c17\" style=\"\" rel=\"noopener\">conference<\/a> to announce the timeline for the 2024 presidential election. National Dialogue and State Information Service boss Diaa Rashwan has previously said to expect the process to get underway this December. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING THIS WEEK- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong> Conference season gets well underway this week<\/strong>, with several several events opening their doors in the capital and beyond:<\/p>\n<ul>\n<li><strong> Sunday-Monday: <\/strong><a target=\"_blank\" href=\"https:\/\/www.arabsecurityconference.com\/\" style=\"\" rel=\"noopener\">Arab Security Conference and Exhibition<\/a>, Nile Ritz Carlton, Cairo.<\/li>\n<li><strong> Sunday-Tuesday: <\/strong>Sharm Rendezvous ins. conference, Rixos Premium Seagate, Sharm El Sheikh.<\/li>\n<li><strong> Wednesday-Saturday: <\/strong><a target=\"_blank\" href=\"https:\/\/www.cityscapeegypt.com\/en\/home.html\" style=\"\" rel=\"noopener\">Cityscape Egypt<\/a>, Egypt International Exhibition Center, Cairo.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s Fed week: <\/strong> Expect the Federal Reserve to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a584f879-d265-4497-b408-b9df4cfe2a21\" style=\"\" rel=\"noopener\">leave rates unchanged<\/a> when it meets for its policy meeting on Tuesday and Wednesday this week. A <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5773827a-c463-44bc-aa32-65a96e13e46e\" style=\"\" rel=\"noopener\">higher-than-expected US inflation print<\/a> in August now has market watchers penciling another 25-bps hike before the year is out, though for this meeting the consensus is that Fed officials will sit tight and see what happens in September before making another move.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Shoukry is in the Big Apple for the UN General Assembly: <\/strong>Foreign Minister Sameh Shoukry is in New York this week to participate in the <a target=\"_blank\" href=\"https:\/\/www.un.org\/en\/ga\/?gclid=CjwKCAjwpJWoBhA8EiwAHZFzfkMJbddhHmPWRX0SNFwhqgYrTu-AS12J-M8n-nQKjEbJQb7LZYZIixoCUS8QAvD_BwE\" style=\"\" rel=\"noopener\">UN General Assembly<\/a> kicking off on Tuesday, the Foreign Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/48kspby\" style=\"\" rel=\"noopener\">said<\/a> Friday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1036.jpg?ssl=1\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORIES ABROAD- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong> Arm shares pop in Nasdaq debut: <\/strong> Shares in British semiconductor giant Arm jumped almost 25% on their debut session on the Nasdaq on Thursday after the company completed the biggest IPO of 2023. Shares in the SoftBank-owned company were priced at USD 51 on Wednesday, and surged to USD 63.59 at the close of play on Thursday, handing the company a market cap of more than USD 65 bn. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/softbanks-arm-set-debut-nasdaq-after-blockbuster-ipo-2023-09-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-14\/softbank-s-arm-indicated-to-open-higher-in-new-york-debut\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/651d4970-ef7b-46a0-a68f-c7b4b0ca888f?ref=biztoc.com\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/09\/14\/arm-ipo-arm-starts-trading-on-the-nasdaq-in-win-for-softbank.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The ongoing auto workers strike is big news the other side of the Atlantic <\/strong> and is front page news on the global business press: <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/car-prices-auto-workers-strike-98905c8e0fcf633d21a1f83183f9fd49\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/uaw-automakers-resume-labor-talks-stellantis-hikes-wage-offer-2023-09-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-16\/uaw-strike-latest-stellantis-says-union-nixed-illinois-plant-offer?srnd=premium\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/4752dd8e-3681-488c-a738-051ef5917a64\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/09\/16\/business\/uaw-strike-ford-stellantis-gm.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/business\/2023\/09\/16\/uaw-strike-updates\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/the-u-s-lost-4-1-million-days-of-work-last-month-to-strikes-92c6a9f7\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n  <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MARKET WATCH- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong> Oil prices are creeping close to USD 100: <\/strong> Oil prices hit their highest levels since November on Friday as the global market continues to tighten on the back of Saudi Arabia and Russia\u2019s decision to extend supply cuts until the end of the year. Brent climbed more than 2.5% on Thursday and Friday to close the week at almost USD 94.30 a barrel, while US crude breached the USD 90 mark for the first time in 10 months, ending Friday\u2019s session at 91.20. It\u2019s a good thing Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5509f320-a92c-4c1c-a7a4-fffcfdbb7302\" style=\"\" rel=\"noopener\">took out those hedging contracts<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Grain ships head to Ukraine despite Russia\u2019s blockade: <\/strong> Ukraine is sending cargo vessels to collect grain from its Black Sea Port for the first time since Russia terminated the safe passage agreement in July, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-16\/two-ships-heading-for-ukraine-s-black-sea-port-to-load-grain?srnd=premium-middle-east#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Two ships are en route to Chornomorsk port carrying some 20k tons of wheat bound for Africa and Asia, the news outlet citing <a target=\"_blank\" href=\"https:\/\/twitter.com\/OlKubrakov\/status\/1702968384017592336\" style=\"\" rel=\"noopener\">a s<\/a> <a target=\"_blank\" href=\"https:\/\/twitter.com\/OlKubrakov\/status\/1702968384017592336\" style=\"\" rel=\"noopener\">ocial med<\/a> <a target=\"_blank\" href=\"https:\/\/twitter.com\/OlKubrakov\/status\/1702968384017592336\" style=\"\" rel=\"noopener\">ia post<\/a> by Ukraine\u2019s infrastructure minister, Oleksandr Kubrakov. Since the grain pact collapse, Ukraine rerouted its grain exports via rail, river, and land, which carry the risk of being exposed to Russian attacks on river ports.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>THERE\u2019S JUST ONE DAY TO GO- The Enterprise Finance Forum takes place tomorrow and Tuesday at the St. Regis Hotel on the Nile Corniche. This flagship forum is the latest in our must-attend series of invitation-only events, where CEOs, bankers, investors, founders, and corporate leaders will meet to discuss the trends shaping the future of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":606439,"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":[7204],"tags":[93,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-606438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-energy","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"26cbb58e-2d70-4f3b-83c8-77a3dff8f3f9","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/9\/1040.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Oil prices are creeping closer to USD 100","related_issue":[606436],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.b5911f1e-1f3c-43b7-b886-f4889cbbc4bd.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oil prices are creeping closer to USD 100 - 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\/2023\/09\/17\/oil-prices-are-creeping-closer-to-usd-100\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil prices are creeping closer to USD 100\" \/>\n<meta property=\"og:description\" content=\"THERE\u2019S JUST ONE DAY TO GO- The Enterprise Finance Forum takes place tomorrow and Tuesday at the St. Regis Hotel on the Nile Corniche. 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